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: Sir Auric Goldfinger who wrote (2825)	4/26/2000 5:30:00 AM
From: EL KABONG!!!	Read Replies (1) of 3543

Hi Auric, Here's a story that sounds like a disaster in the making to me. interactive.wsj.com The article is about the AT&T Wireless IPO coming out later today. The stock is expected to price somewhere between 26 and 32. AT&T employees, most of whom were unable to participate in the Lucent spin off a few years ago, are being offered a chance to participate in this IPO, an equal shot for file clerks and executives alike. Seems as though these people are mortgaging Grandma to raise as much money as possible to buy as many shares as possible. Sounds like initial demand will be really high for these shares. But hold on a second. Do these people really understand the risks that they're taking here? Do they understand what a tracking stock is? Remember, this IPO is for a tracking stock, not a regular ownership stock. My take on it is that they may understand (to some degree) the AT&T associated risk, and they may have some vague notion regarding general market risk, but let's face it. This is Mom and Pop gambling the whole enchilada on one roll of the dice. I really hope things work out for these folks. I really do. But there's a nagging feeling in the recesses of my mind that says that the light that they see at the end of the tunnel is really an oncoming locomotive... I guess we haven't seen a market top (or bottom) yet... KJC

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