At present the investing public, rightly or wrongly, is 'sold' on the idea that the growth of this country is perpetual, and that the experience they have had in stocks the past ten years will be duplicated in the next ten.
Lucien Hooper in Forbes - 1958
(Source: It Was a Very Good Year by Martin Fridson) Warren Buffet was quoted recently as indicating that if he was giving a course on stock evaluation, the final exam would be: Describe how you would value an Internet stock. And anyone that gave him an answer would flunk. And I think that kind of sums it up. You can't value these stocks.
Donald Trott, in "Online book wars rev up" from CNNfn
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