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<p>[QUOTE=&quot;medoraman, post: 1281330, member: 26302&quot;]What you are characterizing as &quot;blue sky&quot; are growth stocks in which future frowth is priced into their market price today. You are very right that if growth prospects dim these stocks can fall hard, but if they brighten they can go up disproportionately. It is up to the investor to analyze the price and if he doesn&#039;t agree with the growth prospects not pay that price. No one is holding a gun to your head to pay the asking price.</p><p><br /></p><p>Btw, analyzing stocks based upon their hard assets really is worthless. This value, if the company needs to be liquidated, is never materialized. Any company I would have to analysyze on the basis of their hard assets is not one I would wish to consider anyway, since that means you think liquidation is possible. As a multiple of sales or profits is the best base index, keeping in mind possible changes, in my view.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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