thanks for finally adding reason to the post flypastpastfast.
I think a comparison with the dot coms is fair because of the similarities. People are excited about the lowcost carriers at the moment because they are generating and receiving a lot of publicity. Hence people are buying the shares and the price is rising. This may be because people are not considering the potential future earnings of the business at all or are very optimistic about the potential earnings. This is exactly what happened with the dot coms and they too became horribly overvalued -as we all found out!
Now if you were to ask me which company has the greater future earnings I would reckon BA which would then suggest that Ryanair is overpriced.
Now the technical geeky bit - if Ryanair is indeed overpriced and this can be exploited then this is know as 'Stock Market Inefficiency'.
[ 15 February 2002: Message edited by: ExiledTyke ]</p>