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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: Cheeky Kid who wrote (2886)5/25/2000 4:13:00 PM
From: bobby beara  Read Replies (1) of 3543
 
>>>>new Paradigm<<<<<

new valuation metrics
new economy
new era

yadda yadda yadda

these are the same rationalizations people used for valuing tulips at the top in Holland, dow stocks at the top in 1929, tron stocks at the top in the 60's and early 70's.

sure some of these business will survive the internet shakeout and be prosperous.

but paying up BIG for concept stocks, with unproven business plans, just because they have com, net, link, data, ram, global is a tulipmania, everybody has to own some promise of riches, and everybody does.

the mania extends to your mainstream tech companies who "investors" have bid up to valuations beyond fantasy.

That is another thing people confuse themselves with in the delusion of a mania, they think they are investors, when in reality they are speculators.

warren buffet is an investor.
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