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  • astral_tsar astral_tsar Mar 10, 2006 10:23 AM Flag

    Bought at $337 .. feel lucky today

    Hope it works out for you as a short-term trade.

    But 70x earnings will never hold up for the long haul. Look for Yahoo's P/E, 24x, sooner or later. For GOOG that comes to $120 per share.

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    • 50x earnings is about as much as you should expect in the future. That projects to a maximum justifiable price of $320 based upon our calculation that GOOG will earn $6.40 this year. Note that that figure suggests a growth rate much slower than GOOG currently admits to. Time will tell, but we believe there is absolute safety in shorting with the intent to cover at or below $320.

      Regards,

      Boss Man

 
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