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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.94+1.1%Nov 28 9:30 AM EST
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To: RetiredNow who wrote (63267)3/13/2003 4:53:48 PM
From: Lizzie Tudor  Read Replies (2) of 77400
 
I'm convinced that the real damage that bubbles do, is basically more human emotion than economics. All of these things that are devastating to the tech industry now (options "expenses", sales tax) are really tit for tat wrt the excesses of the 90s, envy is the key motivation if you ask me. The problem is, that what made the bubble in the first place remains the key driver for US growth. So cutting off the industry is really short term thinking. I'm just hoping the next administration is better than this one from an economic perspective- thats a year from now though, and even if we have a decent economy then the deficits will be a significant drag. I actually think things are much worse wrt the federal budget than the Bush admin thinks because the 2002 tax roles are going to be ugly, very bad.

One investment that might work for US based companies without options are media, pure internet companies. These are yahoo, pixar, amzn etc. You don't need an army of engineers for those companies, just a few do the job. And no foreign entity has figured out how to copy hollywood. Those stocks might go up. I suspect all the capex companies that can't cut off the R&D decline but their stocks probably just stay flat like Cisco.
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