VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Voltaire who wrote (9824)	10/26/2000 8:28:43 AM
From: edamo	Read Replies (1) of 65232

voltaire...re: "houses would leave intc, msft, orcl alone" perhaps the excess has been wrenched out of certain issues...optical market was rife with excess valuations... what you see unfolding has happened many times before...it's the transition from the longest historical inefficient market to a somewhat more efficient posture. inefficient markets lean toward excess, in both directions. we saw the upside excess with stocks that had no fundamentals reaching valuations that would make one's nose bleed. there existed a disconnect between the reality of a business and how it fits into a tangible market and how investors, houses, little guys,visitors to area 51, thought it should be valued. qcom was a perfect example...the thought of the whole world instantly being wireless, with no regard to the reality of how long it takes an infrastructure to develop lead many to join in the inefficient excess.....same holds true for fiber optic build out....it can only happen so fast... curious to know who these "houses" are.... good luck ed a.

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