"I would have to believe that we are getting close to the buy 'em and forget about 'em phase on some Nasdaq issues."
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Sarai.....
I agree, at current prices you can buy a lot of $100-$300 stocks and have a guaranteed absolute maximum risk of less than $2 - for a lot of them we are talking about a maximum risk of only pennies.
Actually, no - I don't agree. while there may be a few that qualify, I cannot think of any. Take LU, for instance - give it a 1:50 reverse split and it will drop another 20% or more because it is still overpriced. All of these stocks that had split after split are going to have to do some in the other direction before all of this is over, and when they do it will be more evident that they are overpriced. Just because a stock is selling for a few bucks does not mean it is cheap or even fairly valued - they just look that way.
Personally, I think most stocks are still richly valued, although we are beginning to make some progress in the right direction. Stocks like PG, MMM, KO, INTC, MSFT, QLGC are all selling at very high PE's based on historical norms and that is not even mentioning all the NAZ stocks that have no earnings and very little prospects for positive real earnings in the foreseeable future. Why are these stocks selling at 4, 5, and 7 times sales?????
Nope, I am not ready for the buy 'em and forget 'em scene just yet. First I want to know which ones are likely to survive.
mlsoft
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