Alok:
I don't have any doubt with respect to the role of technology in terms of improving people's quality of life. I was referring to the future with respect to investmnet alternatives - technology growth firms vs the cyclicals , financials, and the like.
I read in the Economist where business-to-business E-commerce in the USA, alone, was predicted by Forrester Research to explode from $80 billion this year to $1.3 trillion in 2003. That's just 4 yrs away! Just the U.S.......not Europe, Asia, South America, yadda, yadda, yadda. To my mind, we are entering an Internet Economy. The technology/telecommunications infrastructure necessary to support the Internet Economy, which will spread worldwide, makes these industries an imperative investment. These investments will be volatile and bumpy, but the net gain over time should exceed that to be found in any other industry. I don't really see how any informed investor could invest without the lion's share being in technology/telecommunications. If safety and wealth preservation is the concern and growth of wealth is not, then tax-free municipal bonds are one approach. But one doesn't need S.I. for that.
None of this is a criticism of your comments. I just don't see investments in other areas, primarily, as an option given present trends.
Stan |
