Very rich lemmings?13 Jan 2006 07:44
PXC. As the Broadband is a battlefield and with the telcoms sector undergoing a major technology driven consolidation, with a major push to unbundle telco exchanges. PXC offers everything the Broadband/PC user could ever want, then the "lemmings" are in good company and are very wealthy lot indeed by the looks of things. Several words of caution. PXC is currently trading on a PE of 19 against a sector average of 13.5, so there is a lot of bid hype in the price, that said, it depends on how much a pred is prepared to pay for PXCs customer/product base. With the shares currently trading above best fundamentals price of 7p-8p, again there is a lot of hope in the price. If one concludes that if every trader/investor follows everyone else or punt, then every investment is lemming type, but if one follows a Co for the perceived attractiveness to another, then that is savvy investing, but should never be the only criteria for fgetting into a share. Based on what I know of this Co and its tradeing volumes, I can discount the lemming theory. As has been previously mentioned elsewhere, there is a very fine distinction between momentum/lemming/savvy investing. As for me my holdings go way way back.