Hi SOROS: Don't think I've ever posted to you, but seen your posts previously. Maybe you read some of mine. If so, you will know my bullish view and why.
I respect the arguments you made. I have had a dear investor friend for many years. He is as much a bear as I've seen. He was saying years ago some of the things you mentioned. Month after month he argued with me, granted not about internet as much as you pointed out in your post, but, nonetheless, he made good arguments. Yet, the bulls ran all over him.
I still see a very healthy market. The quality techs will do fine, the market will do fine. The generation of investor in the market today will not let it fail. There is so much money available to keep the market sustained, even with the debt arguments you made. The resilience shown is proven.
While I think that a number of the internet companies will not make it, the quality techs will, and emerge significantly. Gosh, how many times years and years ago did I hear Intel was dead, that the competition would kill it, that it would run out of innovation, etc..... I learned years ago, never underestimate the quality techs. Realize what I've said is qualified in that I keep talking of the quality techs.
Anyway, that's my view for whatever it might be worth. I remain confident we will have a dynamite year. I am not worried.
Rick |
