Famous last words

"Forget about book value"

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Dear Subscriber, When describing the biotech boom of the late ‘80s, Fortune Magazine put it like this: “Forget about price/earnings ratios. Forget about book value, hidden assets, or other traditional measures of value. Instead, think about potential, about sky's-the-limit growth.” That turned out to be a bad idea. Remember what happened when the dot.com bubble blew up? Maybe you were even one of those investors that got bent over the chair… Yet, here we are again. IPOs for companies with no physical products… or in fact any profits to speak of… are hitting the wires with increasing frequency. The hype is back baby! And investors are at risk of getting burned again. But hype’s not all bad. It does, in fact, lead to incredible profitable investments if timed just right. There’s the rub, though, right? Timing is everything… and impossible, we’re told. Well, it’s impossible most of the time, but when you find that one cycle that let’s you avoid being burned by the hype, it opens up a world of opportunity on the other side. My business partner, Rodney Johnson, has found that one cycle… and he’ll share the details with you on May 30 at 1 p.m. Tune in then to watch his webinar. Harry

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