Saturday, November 3, 2007


Years ago, I used to read the JDSU message board obsessively. The JDSU board was full of fanatical cheerleaders for JDSU.

I remember one guy who always wrote that JDSU would be $900 by the end of the following year, guaranteed. He gave a long rationale for his thesis that mentioned "Fiber to the Curb". I wonder what happened to that guy.

Of course, the JDSU board had naysayers, too, who roped you in with clever hooks and then hit you with their message, which always boiled down to: "Don't be a chump - SELL THIS BLOATED PIG!!!"

Meanwhile, on the Stock Channel, analysts were saying, "Maybe it's normal, today, to have a PE of a thousand."

The sobering thought is, in the case of JDSU, the naysayers were right. I should have taken their advice. I should have sold the bloated pig.

And the day will surely come when the naysayers are right about GOOG. When it will be a bloated pig. When everybody is living on Google Earth and GOOG's PE is a thousand. When pigs fly.

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