As a newspaperman (Metz is a New York Times financial columnist), the author ought to know that there is nothing staler than yesterday's news. His 27 picks among high-tech stocks that are at the "dawning of the millennium" (he believes that technology companies are on the verge of a vast industrial upsurge) are based mainly on two-year-old earnings reports, and products, market shares, and stock prices that already have undergone considerable reshuffling, as in the CAD/CAM sector. Recommending stocks between hard covers is bound to be a thankless endeavor, and the Metz roster of overfamiliar names, while undoubtedly containing some good future performers, can safely be ignored in favor of today's newer stars. Metz's explanations of minicomputers, microprocessors, software, offices of the future, and other basic technology categories are severely outdated, not to say naive. Fresh developments are hardly mentioned: Robotics gets barely a page and genetic engineering merely a reference, while the now-fizzling solar power industry earns a full chapter. Not all the book suffers from the time-lapse perils of predicting in print, however. Metz offers lasting advice on putting price expectations, measured by such ratios as price/earning and capitalization/revenues, into reasonable buy-sell perspective.
Jul 1, 1982