The simple, simple lesson of 2001 is this: Never, never, never pay 100x earnings for anything.
You'll learn the lesson, no doubt about that. Learn now, before the crowd, while some sucker is still willing to pay you more than $300 ... or learn with the masses of people who suddenly realize they're holding a $75 stock, and start panic-selling it down to $25.
Shit, it *is* a good company. I'd pay $25 and wait for the bounce back to $75. Funny thing is, the same people who are refusing to sell for $400 now will think I'm crazy to pay $25 next year.