Commentary Topic from greenfaucet
Listening to Cisco's CEO John Chambers this morning on CNBC, one would think the global economy and technology sector was partying like it was 1999. But who should investors listen to? The head of a networking company or the fact that; IPOs are being pulled from the market, jobless claims continue to rise, sovereign debt issues plague the global economy and growth sensitive commodities, like copper, that are plunging.
Mr. Chambers not only sounded like a shill about his company but also made bold statements regarding his confidence about a dramatic global recovery. However, the truth behind CSCO may be found in the stock price, which is down over 6% from its January 14th high of this year, down 2% since the beginning of 2010 and is the same price today as it was in 2001.
