Friday, February 15, 2013

Bill Gates on Tech Multiples

I think the multiples of technology stocks should be quite a bit lower than the multiples of stocks like Coke and Gillette, because we are subject to complete changes in the rules. I know very well that in 10 years, if Microsoft is still a leader, we will have had to weather at least three crises.
Bill Gates as quoted in Tap Dancing to Work