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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Chuck Rubin who wrote (6731)7/12/1999 4:08:00 PM
From: Math Junkie   of 15132
 
The thing that troubles me about what you're saying is that you say that traditional valuation methods don't apply to Internet stocks, but then you are unable to come up with anything objective to replace it. Instead you just tell me to "take action that feels comfortable for you". Well I can tell you with great certainty that a great many of the people who bought AOL for 175 felt comfortable at the time. In fact they thought they had a sure thing. As did those who bought AMZN for 220, YHOO for 240, UBID for 180, and ONSL for 105. The people who bought these stocks at the top are currently down 30%, 47%, 37%, 82%, and 78% respectively, and that doesn't even count the ones who were on margin.

You're right that there is risk in all stocks. That is my point. A smart investor takes steps to manage these risks, through diversification, limiting high-risk investments to funds they can afford to lose, etc.

Tell me, what do you think of someone putting 40, 50 or even more per cent of their funds into Internet stocks?
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