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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (9665)11/21/2002 3:19:03 PM
From: SOROS  Read Replies (3) of 89467
 
Really never thought I'd see another lunacy like late 1999-early 2000. But look at the garbage fly.

Wireless Holders run from 27 to 39
Telecom Holders run from 20 to 30
Software Holders run from 20-30
Semi Holders run from 17-28
Internet Infrastructure from 1.13 - 2.57
Internet Arch. from 18-28
Internet Holders from 17-27
B2B from 1.27 - 2.61
Broadband from 5.50 - 8.90

On an individual basis, you can find dozens of companies that will be lucky to survive that have run up 100-300% in the past 5 weeks. Gambling reigns until you can't pay your debts, and they break your legs. Lots of people going to be needing wheelchairs by the look of the debt being accumulated, and in many cases, once again being poured into stocks. It's the "double or nothing" gambit run amok.

Look at PMCS -- $2.70 on 10/9 with book value of $1.35 Now over $8.00 with same book, same losing money, same debt.

Typical attitudes in a frenzy of "trying to make it back" are:

Fact -- Cisco options would have cut profit 60 percent

Response -- "I don't think it carries so much value," said Raj Srikanth, a networking equipment analyst with Deutsche Bank-North America.

"Eat, drink, and party, for tomorrow we die!" America's new slogan since 1992 continues to be true today.

I remain,

SOROS
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