I remember all so well back in 2001 I think having this discussion about the valuation of Cisco with a very popular poster on the old yahoo board. It was my view that it was plum dang crazy, and that this one decision to "hold" Cisco would out-importance all the other portfolio decisions this poster would make for the next 10 years. The poster had sold a little Cisco but kept the rest and the justification was that John Chambers was THE smartest guy in the entire world.I believe that I remember that discussion back on the old yahoo board although I cannot remember who the bull on Cisco was. Dealraker and benkea in particular were anchors of wisdom in uncertain times. I don't recall either of them being dismissive of aspiring value investors, however, and while sarcastic at times neither of them were gratuitously rude and nasty either.
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