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If you choose a market that already exists, say, networking equipment, you have to compete with an established company like Cisco. Even if your product is marginally better, Cisco can fudge it and outsell you.

If we take care of the business and keep our eye on the goal line, the stock price will take care of itself.

To know whether stocks are cheap or pricey, we typically look at price-to-earnings ratio. Valuation is a tougher question than many folks realize.

The main reason why it is profitable to establish a firm would seem to be that there is a cost of using the price mechanism. The most obvious cost of 'organizing' production through the price mechanism is that of discovering what the relevant prices are.

I think that the failures of Enron and WorldCom and other companies are partially failures of investors to recognize companies that are selling for a thousand times nothing, but chances are they may be worth only that.

You don't get a chance to buy a company like NBCUniversal unless it's not doing well.

If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.

There's a lot of companies that profit from a weak dollar.

The world is changing. Networks without a specific branding strategy will be killed. I envision a world of highly niched services and tightly run companies without room for all the overhead the established networks carry.

I think that a lot of companies are still amazingly price sensitive.