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Technology Stocks : America On-Line (AOL)
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To: Jeff Dryer who wrote (27368)7/30/1999 12:15:00 AM
From: Tim McCormick  Read Replies (1) of 41369
 
You finished your thought on the media. But, what of the participants? When people are trading on ephemeral perceptions, they are more subject to event driven mood swings than if market valuations were based upon the more solid foundation of a discounted future cash flow model. It's all just a huge casino right now. The saddest part being that what was once a respectable profession, has been diminished to the level of a street game of three card monte. Events like the tragedy today are all part of the process of unglamorizing the mystic of internet stock mania. When southern California teens decide the net is no longer cool, and bragging about trading at cocktail parties is no longer chic, then we will be near sharp pencil stock picking time. Tim
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