Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: Sir Auric Goldfinger who wrote (6975)	11/29/2000 7:30:50 PM
From: RockyBalboa	Read Replies (1) of 19428

Auric, read that:.... >>>>>>>>>>> Net stocks haven't suffered merely a correction that can be repaired. It's been devastation that requires major rebuilding of business models and valuation benchmarks. In that sense the carnage is worse than the 1929 crash. Bandoliers of the Net stock bubble often noted that the preeminent 1920s tech stock RCA, whose stature was like Intel (Nasdaq: INTC - news), Microsoft (Nasdaq: MSFT - news) and Cisco Systems (Nasdaq: CSCO - news) rolled into one, lost 97% of its value between 1929 and 1932, after having doubled in 1928 on top of a 200% rise in the prior four years. Less frequently cited is that it took 35 years for RCA stock to regain the loss, even though the fundamentals of the broadcasting business remained strong. Radio grew exponentially and then TV took off. Yet it wasn't until 15 years after commercial TV began that RCA stock surpassed its 1929 high. It took the advent of color TV in 1954 to propel it there.

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