Chaz, thanks for the kind remarks. A sense of humor seems a necessary element of holding a tech stock portfolio with a beta of 4 trillion.
One of Gilder's greatest dead-on calls was the high definition television hysteria that swept through the U.S. in the mid-80's or thereabouts. This is at the same time when the Japanese were going to rule the world, buying Pebble Beach, and Rock Center, and oh by the way own the electronic industry cause they were going to make pretty pictures by pumping the hell out of analog signals. Congress was seriously considering a billion tax payer dollar boon doggle to fund a catch up high tech HDTV center to prevent our imminent slavery. Gilder came out and said: Hello, hello, digital, digital--the Japanese are completely blowing it. Do not spend any money on this--it's yesterday's news.
Seems obvious now but that was pretty wild stuff in 1986/87. It is estimated that the Japanese vaporized $20 billion worth of yen on that goose chase which was a fair amount of dough then, and not a pittance now. I've been following him ever since.
Hang on to your NT--I know you've been a lonely voice in the wilderness but I think they're a heck of a company. I just kind of stumbled into LU as a result of owning T and never got around to looking that hard at NT as a result. Tell you what, my NT handset is the best phone I've ever owned, bar none. Regards, Mike Doyle |
