The New Economy and its Winners Message Board

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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who wrote (622)	5/27/2000 6:25:00 PM
From: Gary Walker	Read Replies (1) of 57684

The "New Economy" is nothing more than a new industry.... It's the auto industry of the 20's or the main frames of the 60's. Efforts to value, analyze, or judge the new industry stocks differently will lead lead to further personal economic disappointment. Over capacity and over speculation are separate issues.... The collapse in internet related stocks has everything to due with over speculation and nothing to do with industry capacity. People who bought ARBA at the highs had no clue about the true value of this company. I guess that many didn't even understand what they were buying. They bought it based pure greed and speculation. A tip from their barber, a lawyer, who knows. This winter I heard a conversation at a country club pro shop that followed this line. Airline pilots trading stock tips, making $250,000 in a month, buying a new corvette on credit, and then watching the Naz sink 2000 points. The biotechs were a favorite of this bunch. I bet there will be a glut of luxury cars available in a few months.

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