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Hi all, this is my first post to the board and I feel obliged to start with a few caveats. 1) I haven't read the book . I know. I shouldn't even be posting yet. I just couldn't help myself. I ordered it last night and it is winging it's way from amazon to me at this very moment. 2) I haven't taken the time to read every post on this board and it is fully possible that my question has already been thoroughly addressed. A quick reference to a post number would be nice, or you can just ignore me.

Okay, here goes. I own a few gorillas, partly by accident and partly because I primarily follow a mechanical investing approach that seems to throw me into them from time to time. But I've got to confess, the valuations worry me . For instance, I've been reading about Brocade and it sounds like a great company, serious gorilla material, all that good stuff. The same good things can be said for I2, to pick another semi-random example. But these companies have PE's in the neighborhood of 1000. Seems to me these companies could go right ahead and have hypergrowth for 3 or 4 years and still be quite richly valued without any significant appreciation in their stock price. Is this addressed in the manual? Is anyone else concerned that the market is getting wise to this game and discounting spectacular future growth earlier and earlier to the point where it is very easy to be late to the party? Do you gorilla investors even consider valuation, or is the general philosophy that if it's a gorilla, you want it, regardless of price?

Thanks for listening. I promise to wait until I read the book to post anything else.

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