A couple of points to respond to Chuck. The reason I said that Taser's (NASDAQ:TASR) current valuation doesn't matter is that it's impossible to predict the company's future cash flows. The comparison to JDS Uniphase (NASDAQ:JDSU) is a big, stank red herring. We're not talking about a textbook bubble company, some bloated-equity serial acquirer whose sales are going to be crippled by an enormous overcapacity in the competitive and overhyped tech wonderland of tomorrow.

Taser's mission is simple and focused, and its sales problem is that its main product is under fire from a bobblehead press corps that either won't read the medical studies or is incapable of understanding what they mean. This has created an indefinite but short-term sales problem, which has created a major, but also short-term profit problem. Once sales turn around, bottom-line growth will resume. We're not talking about something like an XM Satellite Radio (NASDAQ:XMSR), which bleeds money despite its revenue successes. Taser has proven, high-margin profit potential. It has already been taken to the woodshed.

As for competition: Ha! If Taser is Ford, its would-be competitors aren't GM -- they're sideshow carnies with empty promises. We're talking about penny-stock companies that have proved incapable of scraping together any stun-gun sales, whose insiders and management are jumping ship before any stun-gun success. It turns out it's not so easy to make a stun gun, especially one that actually incapacitates a suspect, vs. just inflicting pain. As for Taser's being a monopoly, the Ma Bell mention is another stank herring. Being alone doesn't make you a monopoly.

No, Chuck, Taser isn't the kind of value you and I normally seek as an investment, but neither is it an overripe prune, ready to fall and rot. It's secure in its niche, down but not out, and I believe that those who buy on the pessimism will be rewarded in the years to come. If you want a Rule Breaker stock with the odds to be a world beater, this is the one.

Want to read the opposing viewpoint? Click here to read Chuck Saletta's thoughts on Taser. Also check out Seth's original argument , as well as Chuck's rebuttal.

Taser is a Motley Fool Rule Breakers pick. If you like to play the high-growth game, a free trial is just a click away. Prefer safe and cheap? A peek atInside Valuewill also cost you nothing.

At the time of publication, Seth Jayson had positions in no company mentioned. View his stock holdings and Fool profile here. Fool rules are here.