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[sharechat] Internet stocks

From:	"Mark Hubbard" <mhubbard@es.co.nz>
Date:	Tue, 14 Dec 1999 19:09:51 +1300

Ultimately, a company share is only worth the present value of its future
cashflows, therefore, only those companies that show very strong earnings
growth will justify their valuations.

I have extreme trouble valuing technology stocks, indeed, I've given up.
Some of the high valuations in my mind are simply ridiculous.  I invest in
Technology solely through the Finsbury Technology Trust (UK INvestment
Trust), through which, I have to say, I've done remarkedly well.

Although, I am taking a punt (punt being the operative word) on  Chrome
Global in which I managed to get a allocation. Note I can actually justify
the value of this share through discounted earnings.


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