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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?
YHOO 52.580.0%Jun 26 5:00 PM EST

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To: Mad2 who wrote (2813)4/19/2000 10:02:00 PM
From: bobby beara  Read Replies (1) of 3543
 
>>History does repeat itself

again and again, while the toys may change human nature remains, thats why i continue to laff at stuart and all the other bulls who came to this thread in december to proclaim their stake on the "new economy" and they would have nothing of my references to former "new economies"

the "new economy" is the stock market, just like it was in the 20's, the "new economy" is much about nothing of the many dot.coms providing improvements in economic infrastructure, most dot.coms that have come public in the last two years are only around to be parasites on the greed frenzy by the public, not to provide real business models that will be successsful.

the underlying economic conditions suck, people have negative savings rate, are working more overtime hours, have all their eggs in the stock market basket, most blue chip stocks have been in a bear market for two years now, people are throwing money hand over fist at anything dot.com or IPO - rampant speculation.

yadda yadda yadda.

and still the press and the street FOOOLS the public and tells everybody the economy is great. Merrill Lynch begs on the ad at the top "Be Bullish". and I mean BEGS!

Graham and Dodd are really important authors for people to read NOW.

Businesses are worth what they can make and sell. You buy a business so you can make a profitable return, Can you buy yahoo for cash right now and expect to make a return on investment in the next 10 years.

i don't think so, maybe in single digits you might have a chance.

b
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