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Technology Stocks : All About Sun Microsystems

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To: steve harris who wrote (59683)	3/21/2004 8:28:02 PM
From: Charles Tutt	Read Replies (2) of 64865

It wasn't "tulipmania" except perhaps in a few instances. Companies put together (sometimes admittedly aggressive) and fully disclosed business plans that called for a period of several years in which they built markets while sustaining losses and occasionally returning to the capital markets, followed by years of profitability which would justify the effort. Alleged "investors" supposedly read those plans and determined that they wanted to be involved, so bought (and bid up) the stock. Then those "investors" showed that they were actually short-term traders, and dumped the stock, leaving the companies without access to expected (and needed) additional capital, so they folded. Had they been allowed to execute on the plans as disclosed, many more probably would have survived. The fault lies with the trading mentality, which is vulnerable to an incoming President bad-mouthing the market and appointing incompetents to leadership positions. JMHO. Charles Tutt (SM)

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