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To: Haim R. Branisteanu who wrote (17066)	6/11/1999 4:25:00 PM
From: Alok Sinha	Read Replies (1) of 64865

From CBS MarketWatch: Conventional wisdom would suggest that rising rates hurt stocks with the highest-multiples, and not surprisingly ones with no earnings multiples. But "strangely," notes Keith Benjamin, Internet analyst at BancBoston Robertson Stephens, "given high cash balances at most companies, rising rates would inflate earnings." This guy must be the biggest idiot on earth .To focus on the marginal benefits of liquid cash positions of net companies relative to the huge change in valuations of firms (with no positive earnings for years to come) as the rates move up is preposterous. Kind of validates your opinion regarding sell side analysts. Regards Alok

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