>>>>How many businesses that start up every day in the USA and fail? Most of them.<<<
thats true, and thats why you shouldn't be the yoda of the internet when they are giving billions of free cash to somebody because they have dot.com in their name. The internet is a compelling new technology, it is a valid technology and the reason this mania has longer staying power than other manias, but nevertheless it's a mania and the shakeout will be painful for the losers and produce a bonanaza for the winners.
>>>They have a dream.<<<
nothing wrong with that.
>>>>That's call capitalism, free market.<<<<
yep and capitalism will produce your booms and your busts, the internet won't change that, it's ingrained in the natural order of things, just like night and day.
your booms and your busts happen on 5 minute charts, daily charts, weekly, monthly and yearly charts, sometimes we can call the booms and busts correctly on those time frames, sometimes, not.
From the recent Bershire shareholders meet:
Mr. Buffett noted the extremes in some company market valuations today. He said some companies may have a market cap of $10 billion but would be unable to borrow even $100 million if they went to the bank. Yet their individual owners could borrow 20 times that amount. Of such imbalances
Mr. Buffett said, "This is as extreme as anything that has happened --including the 20s." Mr. Munger called it the most extreme event in modern capitalism. |
