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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: BGR who wrote (125599)9/25/2001 6:41:50 PM
From: Oblomov  Read Replies (1) of 436258
 
I thought that the dotcoms had a very low cost of capital, one which was not dependent on interest rates. They get their capital from venture investors and the equity markets. At least, that's what I was told in a personal conversation by a Bear Stearns VP in Internet equity research back in March 2000. Could all of the Masters of the Universe (this time, they wore khakis and unbuttoned collars instead of Hermes power ties and Armani suits) have been wrong all at once?

LU had a very unsound business plan. I have been saying that since late 1998. Fortunately I convinced some family and friends to sell back in 1999. Their receivables book was bound to blow up sooner or later.
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