[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fU0mmQjfN9j6jWg--lTUfDjvY7_xmH-LzPX_jRvRLyRs":3,"$fZzgj7rkux2pxCI19_xuugLKsb4mJ8r2xrd3Ua7UGQxg":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},196297,"Paul Wick","P",9,null,"paul-wick",[],{"quotes":13,"pagination":116},[14,27,38,49,61,72,83,94,105],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},2757983,"Instead of generating cash, they're burning cash. We are not jumping into Internet stocks at these valuations. I think the Internet sector is going to continue to sink.",4,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[22],{"id":23,"tag":24},5733879,{"id":25,"tag_name":26},5568,"burning",{"id":28,"quote_text":29,"author_id":5,"source_id":17,"has_image":18,"author":30,"source":31,"quote_tag":32,"commentary":9},2757976,"I'm quite optimistic that the year is going to be a good one and a strong rebound year on the heels of a number of Fed rate cuts. With the Internet bubble bursting, you're not going to have the daily crazy moves we had.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[33],{"id":34,"tag":35},5733872,{"id":36,"tag_name":37},12559,"bubble",{"id":39,"quote_text":40,"author_id":5,"source_id":17,"has_image":18,"author":41,"source":42,"quote_tag":43,"commentary":9},2757969,"The chip industry is on fire now. It looks pretty apparent we're in the early stages of an upturn in the entire semiconductor industry.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[44],{"id":45,"tag":46},5733865,{"id":47,"tag_name":48},110778,"apparent",{"id":50,"quote_text":51,"author_id":5,"source_id":17,"has_image":18,"author":52,"source":53,"quote_tag":54,"commentary":60},2757959,"Everyone knows Microsoft is the best company in America. Yes, it's expensive. But the earnings are always highly understated and they're generating billions and billions of dollars in free cash flow.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[55],{"id":56,"tag":57},5733853,{"id":58,"tag_name":59},2294,"best","**The Backstory**\nPaul Wick, a renowned biotech analyst and hedge fund manager, likely uttered these words during the 1990s or early 2000s, a time when Microsoft was dominating the tech industry. Wick's career was marked by his ability to spot undervalued companies, and his insights on Microsoft reflect his keen understanding of the company's financials and market potential.\n\n**The Hidden Insight**\nWick's statement reveals a counter-intuitive truth: the best companies are often the most expensive, yet they generate enormous free cash flow. This paradox suggests that the value of a company lies not in its stock price, but in its ability to generate cash, which can be used to fuel growth, pay dividends, or acquire other companies.\n\n**How to Use This**\nTo apply this mindset today, investors and professionals should focus on a company's ability to generate free cash flow, rather than its stock price. By doing so, they can identify undervalued companies with strong financials, even if their stock price appears high at first glance.",{"id":62,"quote_text":63,"author_id":5,"source_id":17,"has_image":18,"author":64,"source":65,"quote_tag":66,"commentary":9},2757942,"It's like having the wind at your back.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[67],{"id":68,"tag":69},5733843,{"id":70,"tag_name":71},2615,"wind",{"id":73,"quote_text":74,"author_id":5,"source_id":17,"has_image":18,"author":75,"source":76,"quote_tag":77,"commentary":9},2757929,"That's one of the reasons we are now a little less aggressive in terms of running with enormous weightings in any sector.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[78],{"id":79,"tag":80},5733824,{"id":81,"tag_name":82},42363,"aggressive",{"id":84,"quote_text":85,"author_id":5,"source_id":17,"has_image":18,"author":86,"source":87,"quote_tag":88,"commentary":9},2757908,"They are among the three most profitable software companies in the high tech industry.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[89],{"id":90,"tag":91},5733810,{"id":92,"tag_name":93},25502,"among",{"id":95,"quote_text":96,"author_id":5,"source_id":17,"has_image":18,"author":97,"source":98,"quote_tag":99,"commentary":9},2757887,"You'll see a lot of stocks take it on the chin. It's happening to dozens of Internet companies.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[100],{"id":101,"tag":102},5733785,{"id":103,"tag_name":104},291693,"dozens",{"id":106,"quote_text":107,"author_id":5,"source_id":17,"has_image":18,"author":108,"source":109,"quote_tag":110,"commentary":9},2757874,"Last year was a year of unprecedented volatility. The euphoria is gone and we're back to reality.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[111],{"id":112,"tag":113},5733777,{"id":114,"tag_name":115},4197,"euphoria",{"currentPage":117,"totalPages":117,"totalItems":8,"itemsPerPage":118},1,10]