Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: Mad2 who wrote (2142)	11/9/1999 11:41:00 PM
From: charger	Read Replies (1) of 3543

Pigs at the trough... We are witness to the greatest speculative blowoff to the greatest bull market in history. The valuations of many infantile companies with little revenues and no earnings is truly frightening. It goes something like this: IPO X goes public at 20 billion and maybe drifts down to 15 or 12 billion. Since IPO X makes no money, company Y with a similar business model and decent revenues sees its valuation expand, because if the market sanely values IPO X at 20 billion, then company Y is cheap. That is the logic going on today. There is NO fear in the markets now. It's a textbook example of a buying panic. Greenspan will not pop the bubble before Y2K and everyone knows it. However, if Y2K doesn't do the Fed's nasty job, look for the Fed to get nastier still. Fatten up while the fattening's good, because next year will slim pickings for pigs everywhere.

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