May 13, 2011

Rich Karlgaard: No safe harbors for traditional value stocks (2000)

From where did this loony idea emerge that a cowlicked midwesterner who buys stock in companies that turn out syrupy fizz water, bland ice milk and lefty newspapers should thus be known as a Value Investor?...Tech will roar back. It will continue its merry dash toward infinite powers at zero cost. It will transform all in its path. Markets may (and just did) correct for overvalue, but they can't abjure the laws of physics... Bottom line: In such an explosive economy, there will be no safe harbors for traditional 'value' stocks."

~Rich Karlgaard, publisher, Forbes Magazine, Forbes, May 2000

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