Open Question
Jim
My question is about google. If you take a look at googles history quarter 1
2007 it was growing at 60% if I'm looking at the numbers right it had a trailing
P/E ratio of only 39
Quarter 2 it was only growing at 40% again with a trailing P/E of 39
It seems like apple should pay a higher multiple if I'm doing numbers right but
it's already paying a 52x earnings trailing P/E
It seems to me that it is time to go back maybe to a 45 trailing because we are
in a slower economy which should send the price down to 645 so it seems like it
was perfectly priced on friday and as each quarter goes on it should gain per
share and pay a 40 trailing PE
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people will stop paying for advertising if the economy is bad
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Are people going to stop going online because the economy is bad? I don't think
so. Google will be fine.
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MM and Jim convinced me on goog once again! I have been in and out, might throw
some in the retirement fund and let er roll. . . . in 4-5 days during market
hours!
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Neither apple nor GOOG was affected by a slowing economy while at the same time
the discount rate that we pay for long term assets went down and the scarcity of
great growth makes us pay up.
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