I hope they don't end up driving cabs in a couple days.
When you drop a ball from the top of a building it will bounce a couple of times.
You look for undervalued stocks by looking at industries that have been overlooked.
I would by very suspicious of any utility company that raises a dividend. We're on the eve of deregulation, and that will cause competition in the area that is going to cost a fortune.
I don't think the market can go much higher, and I don't think the Dow Jones average will immediately go to 10,000 or anything like that. I think we've seen the great rise. That doesn't mean we're going to see a terrible decline, but I think the great rise is over and caution is the word.
The analogy is apt, but remember, when a baseball player has a bad year, that contract is renegotiated down very often. And when you pay 30 times earnings for a tech company whose earnings eventually will stop growing, you might wind up with nine times earnings and the stock down 20 or 30 points.