hi Don,
some of the quotes you provided from that book leave me truly saddened and amazed...
From Profit and Loss to Market Cap. Total market capitalization has become the new scorecard for business competition because it unambiguously ranks all of businesses globally across industries. Accounting is trapped in a P&L view of the world, but investors "get it" (or, at least, they did until the prices collapsed).
uh, market cap, yep: Priceline, TheGlobe, YHOO, QCOM, CSCO, INTC, GBLX...there's over half a trillion in market cap lost right there. my guess is that those same companies will not earn half a trillion, in inflation-adjusted dollars, over the next hundred years. that's what they mean by gone ta money heaven, i gesss.
it is terribly sad to realize that some people, living on a distant planet (Bubbleonia) on the outskirts of the known universe, have perhaps learned nothing from the collapse of the bubble. does anybody on Earth actually believe this quote? all the Bubbleonians out there, if you're listening, please explain why profits don't matter but market cap does.
i will try to understand the complex logic of Bubbleonia if it does not overly tax my tiny Earthling brain. unfortunately, Bubbleonia is so far from Earth i doubt i will get a reply from them within my lifetime (Earth being in the Slow Zone and all). so it goes... |
