| I'm not sure I agree yours and Dale's assessment. While it is safer to stay away from the pure internet plays, most, if not all, of the internet business models are essentially identical. Only the very largest are showing any profit at all and even then, they are still grossly overvalued. Once the chips start to fall and the market recognizes that internet companies can and will go bankrupt, these large plays will still demonstrate a lot of downside IMHO. They'll have to come back to the world of reality in terms of their valuations before I'd bother with them. NBCI, for example, has done nothing but lose money in spite of constant dramatic increases in gross revenues. A typical internet profile. The market, IMO, is extremely unstable right now. The idea that there is no inflation and the economy is slowing down is just plain bull. One little slip up, like a miscalculation by OPEC that sends oil over $40/barrel, will reveal the truth and the market will come down and come down hard. If that happens, the only stocks that will be safe to hold will be undervalued comanies that actually make money. Money losers like the internets will get crushed further and anybody wanting to sell will be SOL. I'm 90% convinced that we are heading for a recession in 2001. This a time to be conservative, not a time to be shooting from the hip. |
