Just a word of warning for the potential shorters of XRO and others out there.....
Excerpt taken from "Market Wizards" circa 2011
Are there mistakes you learned from as a trader?
As an equity trader, I learned the short-selling lessons relatively early. There is no high for a concept stock. It is always better to be long before
they have already moved a lot than to try to figure out where to go short.
What are examples of concept stocks?
The Internet stocks in the 1990s and biotech stocks in the late 1990s to early 2000s.
How about a current example?
The cloud computing companies. When P/E multiples get to 50, 60, or 70, you are in the realm of concept stocks.