KLP, and "the left won't like this" because? Clearly, the writer is saying the fed's failure to intervene because of three other issues: Asia, LTCG and the year 2000 problem led to the overinflated tech bubble. Okay, so that takes everyone off the hook except, Alan Greenspan of THE FED, and I always blame him. I think CEOs have taken advantage of the situation by withdrawing millions from these companies before they collapsed. Along with all the prognosticators who were wrong about the direction of the market there were bound to be some who were right about what happened. And you found someone who is sort of right,though in typical non-committal fashion he hedges his bet by playing both ways...his quote: The decline in technology stocks is likely to continue, Savoy
said, with mid-size technology companies with high price-to-
earnings ratios being the next group of stocks to fall, he said.
``Either big-cap technology moves back up, or, probably more
likely, the extremely overvalued companies that trade at huge
multiples of revenue, have to have downward pressure on them,''
Savoy said. |
