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Strategies & Market Trends : The New Economy and its Winners

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To: Mark Fowler who wrote (8657)	9/15/2001 11:00:37 PM
From: Bill Harmond	Read Replies (4) of 57684

Longer term, Internet and technology-related stocks may wind up being the biggest winners, even though they may first wither in fear of recession or depression. The Trade Center terrorists not only destroyed a mammoth physical location for the world's financial markets. They also drove a stake through the heart of the old centralized financial markets run on physical trading floors. Indeed, this horrific tragedy will rapidly accelerate the trend toward a highly decentralized, global electronic trading network for stocks rivaling that for bonds. The Nasdaq Market is well on its way there, while the New York Stock Exchange, with its floor traders and quaint historic location, is more of an Old Economy anachronism than ever. The key beneficiary of such a trend will be New Economy sectors such as Internet architecture and storage, fiberoptics, broadband and software. interactive.wsj.com

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