Hi Steve and DTers,
You said: it will be interesting to see if they (ed., Internuts) hold, especially if the overall market cracks.
There are some folks suggesting that if the FED raises by a quart at the end of the month that the stock market will have a relief rally. (Logic: Certainty returns.) This seems ludicrous to me. I hate to admit it on the thread, but I caught part of the LATimes/CNBC investor's conference on Memorial Day, (hold the tomatoes!@!).
Garrett Van Wagoner was on one of the panels and when questioned about what would occur with a rate hike his response was clear, certain and untainted by reason, he said he would, quote: sell, end quote.
So much for faith in the future. Ry's conclusion, Mr. Market loathes rate hikes and will vanquish 10% of his net worth at the first hike, just to spite himself. (Logic: Uncertainty returns, re: future hikes)
On to the Inuts: Has anyone noticed the quality of the dotcom IPOs lately? Sheesh, you'd think they was tryin' to rush this stuff out the door, because it is getting so aromatic. And yet every IPO takes a bit of interest away from yesterday's rokkitships. Comments like the .bomb piece in Barron's will help to make sure that the gray hairs think twice or ten times before committing to what (I-nut mania) after all, is nothing but a darn good story right now. As Cuba Gooding Jr. might put it, "Show me the EBITDA". It ain't there folks, with only a couple of exceptions, which seemingly are priced to reflect their real value in 2015. But you knew all that, didn't you?
Best, Ry |
