The Next Cisco

Everyone is looking for it when they should be paying more attention to the real deal

Sometimes Wall Street gets captivated by a business model, and everybody just goes nuts trying to find companies that fit it. When I got in the business in the early '80s, everybody wanted to find the next Merck, which was a fabulous stock for so many years. Later, people wanted to find the next Microsoft. Then we searched for the next Amgen, and for the past few years we've wanted to find the next Intel. Recently we wanted to find the next WorldCom and the next America Online.

Now we have a new deity--the next Cisco. This once quiet company has...

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