Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Cogito Ergo Sum who wrote (2771)	4/3/2001 2:24:36 PM
From: tradermike_1999	Read Replies (2) of 74559

Mary Farrel Senior Investment Strategist, UBS Paine Weber on CNBC today: By ANY measure this market is undervalued That is why I don't watch CNBC. The owner of the Dallas Mavericks made his fortune when he sold shares in his own company - Yahoo - in 1999. He says of people buying in hopes that this is the bottom: “They’re idiots, I’d rather collect my 3% to 5% in whatever investments and wait for it to turn around.” The CEO of Applied Micro has sold more than 99% of his holdings since 1999 for a gain of $170 million. The CEOs know this is a bubble and are still selling to get out. You have to be stupid to invest now. A year ago you could have bought 100 shares of Yahoo for $25,000. Now for $25,000 you can buy 100 shares of Cisco, 100 shares of Lucent, 100 shares of JDSU, 100 shares of Ariba, 100 shares of Nokia, 100 shares of Sun, and 100 shares of Yahoo and we won’t have a real bottom until JDSU, Aribia, and Yahoo are all under $2.50.

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