The New Qualcomm - write what you like thread. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The New Qualcomm - write what you like thread.

QCOM 171.54

+0.4%

Nov 10 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Yamakita who wrote (2549)	1/22/2001 4:38:40 AM
From: Maurice Winn	of 12231

Visesh gets it wrong...<...The Nasdsaq's dismal performance, he contends, reflects irresponsible monetary policy by the Fed. Although Greenspan often is perceived as the economy's savior, Murphy believes it was Greenspan's paranoia about the Y2K bug that triggered the Internet bubble in the first place. "Greenspan ended 1999 in a panic about Y2K," Murphy said in an interview last week. "Because of that, he started pumping up the money supply at literally a 50 percent annual rate in October and November of 1999. The real economy can't absorb money so fast, and this flooded into financial assets. It created a bubble for Internet and biotech stocks."> If there is a big, inflationary, creation of money, it doesn't just land in biotech and internet zones. Those zones were pumped up by maniacal bidding. It doesn't take any extra money in a stock market to raise prices. Vishesh doesn't understand that. If prices double right across the market tomorrow and people trade at those prices, it doesn't mean there is any more money in the world. Anyway, it wasn't a simplistic money creation which Alan Green$pan did to avoid Y2K panic. He was judiciously ensuring that in the event of a Y2K crunch, there would be liquidity. The extra potential liquidity didn't cause any financial disruption. The blowout to Nasdaq 5000 was due to maniacal bidding on stocks with no earnings or prospects of earnings at a level to justify the stock prices. Simple! Same on biotechs. Simple mania with no good valuation basis other than making a fast buck. In 2001, people are going to learn that Alan Green$pan was NOT simplistically targeting the stock market with his interest rate increases. He was targeting the wealth effect and irrational exuberance. And he got them! And strangled them! I think he has done a great job. Mqurice Dow 16,000 Feb 2002 QUALCOMM 201 in 2001

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next