Early in 2000, near the top of the market, Arthur J. Samberg, head of the well-regarded hedge fund Pequot Capital Management and a top-notch technology investor, shared his four favorite stocks with the Barron’s Roundtable. (They were Critical Path, Double Click, Kana Communications, and Message Media.) The Graham and Dodd who cautioned that “the notion that the desirability of a common stock was entirely independent of its price seems inherently absurd” would have blanched when Samberg said:
“I’ll give you no numbers. I’ll give you no prices. I am not going to tell you which ones are going to succeed or fail. I think they are all pretty good companies, and if you bought a package of these stocks over the next three to four years, you would do very well. . . . I hear this stuff all the time, about how it is a bubble, it’s ridiculous. If you just use the numbers to do this stuff, number one, you won’t buy them, which is probably a good thing for some people. But you will never understand the amount of change that’s going on, and how much is still ahead of us."
Submitted January 09, 2021 at 06:13PM by Groddam https://ift.tt/3pYWN46
