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Technology Stocks : Apple Inc.

AAPL 273.67

+0.5%

Dec 19 9:30 AM EST

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To: Michael D. Muzzie who wrote (10791)	4/3/1998 11:51:00 AM
From: Russ	Read Replies (1) of 213177

Re: Random walk and fundamental data I haven't read the book. It's been on my "to read" list for years, along with Mackay (Popular Delusions and the Madness of Crowds). As far as the fundamentals being widely known and figured in the price, I don't think so. The quality of "research" coming out of Wall Street currently is abysmal. Denizens of SI boards (amateurs) do a better job of predicting financials than professional analysts, but most investors who follow the fundamentals at all are following the data coming from Wall Street. Someone who follows these boards probably has better info than most. Check out Mike Burke's latest newsletter. www3.techstocks.com Psychology also plays a big part too. I think right now we're in the latter stage of a bubble, and mass psychosis is a better explanation for some stocks than anything else. The Japanese have been losing money for years, they're finally able to move it abroad, so AOL and YHOO go up. -Russ

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