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Technology Stocks : How high will Microsoft fly?
MSFT 474.32-0.1%1:35 PM EST

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To: cheryl williamson who wrote (8855)7/1/1998 4:33:00 PM
From: Phil Melemed  Read Replies (1) of 74651
 
I agree with you that stock price does not always reflect quality, balance sheet, or future business prospect. It is based on mass predictions of the future, and expectations of future value. Not everyone is smart and independent enough to correctly predict the future, against the crowd, so many folks just move with the crowd.

Unlike some contributors here, I will not really argue a lot about the relative quality of products. I am not in the market for buying software. If I were, I would be more specifically concerned about some of those issues you cited. I am, however, in the market for buying stock in software companies. As such, I want to buy stuff that other people will also want to buy. Herd mentality is important to me, as a significant factor in what I buy and sell.

Since we seem to agree here, maybe you would also agree that your postings would be a little more effective if they concentrated on why Microsoft's stock value will appreciate or not rather than on focusing on the individual technical merits of certain software and hardware products?
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