I remember at though it was yesterday - I had lunch with a client in the Spring of 2000. The entire lunch conversation was about how stupid I was not have Cisco in his portfolio. We had owned a few tech stocks but had sold them two years earlier in mid 1998, thinking they were overvalued, especially for a "value investor" like my firm. We did not have another meeting for a year. In that meeting and in every meeting since, in 25 years, Cisco has never been mentioned.
I remember at though it was yesterday - I had lunch with a client in the Spring of 2000. The entire lunch conversation was about how stupid I was not have Cisco in his portfolio. We had owned a few tech stocks but had sold them two years earlier in mid 1998, thinking they were overvalued, especially for a "value investor" like my firm. We did not have another meeting for a year. In that meeting and in every meeting since, in 25 years, Cisco has never been mentioned.
Finally! Cisco and a stock competition are what compelled me to look at valuations and learn that a good price is different than a good company.
Merry Christmas!