[hugh3]

Y'know, I agree with you, but I think you're arguing poorly.

one antiquated notation

Just because an idea is old doesn't mean it's bad.

that P/E is the only thing that matters

I hate to say "strawman", but strawman. Is it really saying that P/E is the only thing that matters? I think not, otherwise it wouldn't say things like "top line growth in many ways is far more important than earnings per share."

an idea that isn't taken seriously by anyone close to Wall Street or finance any more

Argument from (dubious) authority?

only perpetuated by "pop" finance drivel such as Fortune

Scare quotes and the use of the word "drivel"?

[smakz]

You're right, I'm not arguing very well. And please, I encourage any one not to take what I say very seriously either. If you want to invest, think for yourself, that is what I was really trying to say.

[hugh3]

Well yeah, I think that pretty much goes without saying. Nobody should ever take a single "here's why I like stock X" article too seriously. But this one does provide some pretty good food for thought for anyone thinking of investing in computer/internet stocks right now.

I think I'd avoid GOOG and AAPL personally, too overpriced. Mind you, I've been saying that about GOOG since the float, so I'm frequently wrong.