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Some of life's lessons:

1. Avoid hotel rooms near elevators and ice machines

2. Never ask a woman when she is due

3. Do not overpay for growth

To learn more about lesson #3, I call your attention to this excellent article by Morningstar's Haywood Kelly:,1,143859,00.html?_QSBPA=Y&pgid=seo

In a sentence, few companies are able to grow at high rates for long, Kelly finds. Therefore, do not habitually pay a high multiple of future earnings.

You are welcome to share your assumptions on Blue Nile (NILE). This discussion board welcomes variant perspectives, and it also welcomes opinions supported by sound analytical reasoning.

A few weeks ago I read a story on the culture at Google (GOOG). One item that made an impression was how new hires quickly learn that saying "I think..." is the equivalent of asking a woman if she is pregnant. Don't do it. Instead, say, "The facts suggest..."

Let's all try (me especially!) for lots of "the facts suggest..." comments on this site in 2006.


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