“It’s been a week since David Einhorn told investors in his Greenlight Capital hedge fund that he was betting against a list of ‘cool kid’ stocks whose value could fall as much as 90% ‘if and when the market reapplies traditional valuations,'” Philip Elmer-DeWitt reports for Fortune.
“A reapplication of traditional valuations — starting with, say, price-to-earnings ratios — is something Apple investors have waited a long time to see. In last week’s bloodletting, big money flowed out of some high-flying tech stocks and into Apple,” P.E.D. reports. “But based on the 12-month trailing P/Es listed below, the market still has a ways to go.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]