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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: limtex who wrote (72486)2/27/2001 4:35:54 PM
From: Andrew G.  Read Replies (1) of 436258
 
I think it all started with Bre-X. Vast fortunes were lost from investments in mining & exploration and that may have precipitated the "Asian Flu" where much of the Indonesian ventures were situated. And it may have also spurred on more of the desperation and corruption that infected these smaller economies and even Japan's higher echelons.
The little JV's of Canada have never recovered and were highly speculative any.

Despite attempts by the FED, the IMF, and World Bank, the Asian tigers never fully recovered and neither did Japan. Then there was the hedge fund debacle.

Simultaneously, MSFT was battling it out with the Justice department and there were indications that this was going to come to a head with the MSFT/NSCP/AOL rivalry. And it did. When MSFT stock caved that was a turning point for the Nasdaq.
When Clinton & Blair stumbled over their words about ownership of genes, that was also a turning point. Neither a great titan or a revolution in biotechnology could be valued to the extremes they reached.

And when ABJ at GS said she was cutting back on tech stocks in March, that was the last straw. The Nasdaq has been trending down ever since. The big 'bubble' of Internet mania was supposed to fuel a New Economy but e-tailing has become a form of glorified electronic mail order and as we have learned from Nike, the new e-commerce software still needs some work. The telecoms also realized the exhorbitant cost and lengthy time of building out broadband networks that may not reach profitability in the near term. It was a risky bet.

ITWO's stock is a great example of how the 'bubble-effect' of net mania fueled excessive valuation:

bigcharts.com
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