re not fun
Looking at today's range of prices paid for Apple, and the news from Goldman (who seem to be pretty sharp lately, no?) that everything is expected to be chipper in the next quarter, one would think one has a pretty good case for irrationality in pricing.
The stuff doesn't have a value calculated from metrics, it's got a value based on people's feelings. People being scared isn't good for business.
Take care,
--Tex.
PS today was bad, but I've had so many days that were up half this much that I can tolerate a fair number of these before getting really antsy. Since I have figured I can't time trades worth beans, I have to satisfy myself with the long-term ride. That ride's been pretty good in Apple for the last 10y, though, so I don't complain :-)
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