We think pricing is going to be up in mid-single digits as early as June. People are not really looking at this at all. And historically, if you look at a price to sales multiple, this stock can trade as high as $40-to-$50 (per share), |
We'll start to see shifts in there, and I think high-end consumer stocks are going to see a lot fewer sales, |
When it's your time, it's your time. |
You can see many companies have collapsed that never generated cash flow. |
You have to take the actual numbers and the guidance and combine the two. I tend to think if the high p/e (price-to-earnings ratio) stocks have a weak quarter, and even if they have ok guidance, they're going to get killed. But if there are cheap tech stocks that have a weak quarter and so-so guidance, they're probably the ones to buy first. |
You're still seeing people like Compaq worried about the quarter so you're seeing more pressure on high multiple stocks. The market is still trying to find a bottom but selling on continued fears of warnings. |
[Finally, Beard suggests a play in Edison International.] We think the utility is worth probably $17-to-$20. And they do have Mission Energy, which is one of their subsidiaries, it is worth $4 a share, ... We expect them to pay a dividend in 2003 and be worth $23-to-$25. |