The thing is....
...perhaps Internet stocks ARE overvalued.
The naysayers will watch stocks become 10 and 20-baggers, then when they fall back 50 or 75%, they will say, "See, I told you so".
Meanwhile, some will get in on the ride early and get their slice of the pie.
Others will see it rise and rise, then finally get in at the top and lose their shirts.
Uhhhhh, I believe this has been happening throughout the history of the stock market, even BEFORE the advent of the Internet.
There are 50,000 opinions on what is going to happen in the stock market over the next year. With all of those opinions, someone is bound to it right and be proclaimed the next market 'guru', get his/her picture on the front of Time magazine, etc.
My thinking is that with the Internet doubling every 100 days (I believe this works out to better than a 10-bagger), there is plenty of room for growth. The market WILL drop some day, but I don't think we've reached the top yet.
Just my .02 worth... |
