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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 246.76-0.5%Nov 14 9:30 AM EST
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To: Charles R who wrote (2344)7/26/2000 1:36:32 AM
From: minnow68Read Replies (2) of 275872
 
Chuck,

Great post. I want to comment on one particular remark you made "It is downright amusing how every other guy cheers niceguy and looks for a $120 price target one week and the pendulum swings all the way and there is talk about $40"

Before the internet, Compuserve(CIS) had a large community of forums. For many years, I hung out on the CIS investor's forum. CIS was very expensive in those days and only fairly well off people who could see the value of these types of forums were there. It was an incredible collection of extremely bright people. A huge percentage of them were retired, quite wealthy, and living off their investments. There were also many professional traders. These were people that really knew the market and brought a deep knowledge of market history.

One striking thing happened over and over was that people overreacted. I have never seen a group of people who should have known better than this group. But it still happened all the time. A stock would fall 10%, and people would start talking about the impending 50% more it would fall. A stock would rise 5% and talk of doubles and triples would fill the air. And God forbid the entire market would lose 3% in a day! Why this must be the next depression starting!

It's human nature. It's always been this way, and it will always be this way. In the meantime, this could be a very good time to buy AMD.

Mike
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