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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (17670)	3/13/1999 5:59:00 PM
From: umbro	Read Replies (1) \| Respond to of 18691

Top 40 Most Overvalued Stocks I was running a few stock screens over at www.hoovers.com, and out of curiosity, ran a screen of stocks with a PSR (Price to Sales Ratio) of over 5, and then sorted the list high to low. In order to catch most of the current crowd of hi-flyers, I had to go as low as annual revs. of 5 million. Results sorted by PRICE/REVENUE (descending) COMPANY NAME PRICE/REVENUE REVENUE PharmaPrint Inc. 938.00 16.2 Metromedia Fiber Network, Inc. 633.33 21.6 eBay Inc. 397.59 47.4 At Home Corporation 320.51 48.0 British Biotech plc 263.00 6.4 Go2Net, Inc. 229.38 6.4 Sepracor Inc. 213.93 17.4 Apex Mortgage Capital, Inc. 203.17 28.8 Fuel-Tech N.V. 200.00 11.7 GeoCities 193.53 18.4 Liberty Media Corporation 186.27 866.6 Yahoo! Inc. 170.23 203.3 Inktomi Corporation 166.77 28.1 Allegiance Telecom, Inc. 155.26 9.8 Organogenesis Inc. 139.40 7.8 broadcast.com inc. 136.74 22.4 Pixar 128.91 14.3 Transkaryotic Therapies, Inc. 109.68 5.8 Ergo Science Corporation 106.00 18.5 PathoGenesis Corporation 100.00 43.1 CMGI, Inc. 96.33 106.3 theglobe.com, inc. 89.51 5.5 MarketWatch.com, Inc. 88.46 7.0 Ballard Power Systems, Inc. 84.60 25.1 The Aristotle Corporation 76.63 6.1 Lycos, Inc. 76.39 89.6 VeriSign, Inc. 73.36 88.9 The Associated Group, Inc. 71.83 31.0 Xoom.com, Inc. 68.42 8.3 Aware, Inc. 66.02 11.8 CNET, Inc. 64.46 56.4 American Capital Strategies, Ltd. 63.44 15.3 Ticketmaster Online-CitySearch, Inc. 62.69 40.2 EntreMed, Inc. 61.25 5.2 Closure Medical Corporation 52.69 9.6 Infoseek Corporation 51.01 50.7 Level 3 Communications, Inc. 50.93 392.0 RealNetworks, Inc. 50.89 64.8 Microvision, Inc. 50.86 6.4 Imperial Credit Commercial 49.68 6.5 Using a slightly different screen, and requiring that a company have at least 50 million in revenues, here's the Top 20 most over-valued on a Price-to-Revenue basis: COMPANY NAME PRICE/REVENUE REVENUE Yahoo! Inc. 170.23 203.3 CMGI, Inc. 96.33 106.3 Liberty Media Corporation 86.27 866.6 Lycos, Inc. 76.39 89.6 CNET, Inc. 64.46 56.4 Infoseek Corporation 51.01 50.7 Level 3 Communications, Inc. 50.93 392.0 RealNetworks, Inc. 50.89 64.8 Starwood Financial Trust 47.52 81.0 (Persero) P.T. Indo. Sat. Corp. 45.48 111.5 Excite, Inc. 39.59 154.1 Reed International P.L.C. 38.83 1532.8 Global Crossing Ltd. 37.50 424.1 Exodus Communications, Inc. 37.29 52.7 Network Solutions, Inc. 36.21 93.7 Amazon.com, Inc. 35.80 610.0 RF Micro Devices, Inc. 33.51 109.0 AMB Property Corporation 33.08 56.1 America Online, Inc. 31.35 3304.3 Broadcom Corporation 28.35 203.1 On the latter screen, MSFT is in the next 20 names by the way. I'm not getting ready to load the boat with these names as shorts, but it does show on a relative basis just how far the internet frenzy has taken valuations.