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Technology Stocks : FreeMarkets Inc-(FMKT)

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To: SgtPepper who wrote (348)	5/10/2000 3:14:00 PM
From: Islander	Read Replies (1) of 414

Sgt Pep - don't shoot the messengers. Personally, I am not short FMKT - but frankly, this is because I couldn't get any from my broker. >ggggg<< They were already lent out. Now, as to the question of SEC investigations and Congress: What they should be investigating are companies that make fraudulent claims, as well as the many high flying tech companies, large caps included, that cook their books by understating wage costs in their option grants. This is the real problem of overvaluations and earnings overstatements. Regulators are loathe to address the problem because of index linking of monies invested by pension funds. i.e. Pension fund managers are obliged to buy over puffed tech companies because they can be sued for neglect in the discharge of their fiduciary responsibility, if they don't have 'em in the portfolio. Scary, huh? Well, just as Congress was finally compelled to confront the shenanigans of Big Tobacco - so will they have to confront the accounting practices that allowed the valuations of the Nasdaq to get out of hand. Stay tuned. As for the the short sellers? They are the only ones who don't have blinders on. Regards.

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