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Subject:  Re: Sirs, have you no sense of shame? Date:  3/6/2001  5:33 AM
Author:  JDCRex Number:  23524 of 123806

MEA CULPA hit the submit button by mistake:-

They have no shame, no remorse, no apology, no sense of wrongdoing. And why should they? After all, they too must make a living.

JNPR a buy at 200, excessive P/E at 58.
JDSU a buy at 150, excessive P/E at 30.
EMC a buy at 80, still excessive at 39....(not to mention being "immune from a tech slowdown")
QCOM a buy at $500(pre-4:1 split)
AMZN headed for $400, pre-split, now barely a $10 stock.
ETYS in bankruptcy proceedings

Not wanting to prop up a hot air industry, but it is possible for something to be a considered a buy at a 200 and then have excessive P/E at 58. The stock market is forward looking, and (among other things) seeks to attach a present value to future earnings. Therefore, it follows that a decreased outlook on earnings growth can radically change what analysts say about the present value of the business.

Back when everything was go-go and growth forecasts were heading to the bluest of blue skies it was possible (at a stretch) to extrapolate some of the sky high valuations.

Now that expectations are somewhat more earthly, the valuations are radically altered.

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