ShortTermCapitalMgmt

General Electric: Buy Now and Wait

<i>During the dot com boom, did you ever think of investing in GE? </i>

Yes, I bought it in 1998, first thing in the morning after the day the credit markets locked up. At the time I felt it was a marginal value in a valueless market. I figured I would own those shares forever, but in little more than a year the price had more than doubled and the p/e was north of 50. I sold out, and only bought back in last spring at just under 35. The shares are a steal today, in my opinion.