Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: dwight vickers who wrote (21421)	3/26/1998 2:43:00 PM
From: Paul Fiondella	Read Replies (3) of 42771

(Off Topic) Investing & Novell My conversations with a bunch of economist over the weekend is sinking in. A purpose of the stock market not generally recognized by small investors was mentioned, and the George Soros put rumor yesterday put their cautious remarks back into my head. As you know the stock market is the repository for speculative investment capital, that is money that is chasing after liquid financial profits as opposed to profits from productive investments (building plants selling widgets or increasing the productivity of same). Money in the market chases after a "what is the value of the asset" calculation. None of this money goes to productive purposes except in those rare IPO cases when a company like NSCP taps the market for funding. So we come to Soros and puts. None of us small investors has enough money to be considered among those people that own the productive capacity of the country. These are the people with real money. Soros has real money. What would motivate him or any other owner of capital to put the market. Well some of the economists I have talked to suggest the stock market performs another function which small investors typically ignore. It takes speculative capital out of the economy. Wipes it out. The Depressions that happened periodically in the 19th century wiped out the weak players and increased the profit opportunities for those left standing. Its pretty clear who the weak players are in this market. Perhaps by using our heads we can find enough opportunities to do what Joe Antol and others here including myself have done---take our profits where and when we can. But if the market declines it may very well be that it has simply come time to squeeze all of the small investors out of the system. I think Dwight knows what I'm talking about. =========================== This will be my last post for awhile. I don't think I can find anything at this point that would bring me back into the market and therefore there is no reason to bore everyone with any more of these posts as you look for details about Novell. See you all after the crash --- hopefully not with too many horror stories about the experience. Yours and mine. Regards. ---PF

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