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Technology Stocks : FSII - The Worst is Over?
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To: H James Morris who wrote (2110)7/21/1998 12:18:00 PM
From: Joe Dancy  Read Replies (1) of 2754
 
Like the railroads a century ago the Internet will irreversibly transform the economy, markets, and society - and in my opinion government - for the better.

Like the railways however, investments are being made in the Internet with no realistic hope of any return on investment - and many will lose substantial sums investing in these companies - few of which will ever be profitable or will survive long term. Those that do survive, granted, may make you extremely wealthy, but only a very small fraction will.

Also, like the railroads the ones who will profit most in this frenzy will be the stock promoters and manipulators. Long term value investors will do very poorly as Internet market values are jacked around.

For those reasons, and because we are in a depression in this sector of the industry now but it has a bright future, I'll stay right here with the equipment boys and FSII. I may even add here - if nothing else AMAT.

Just my opinion, probably controversial and it sure as heck is not as much fun as the exciting internet stocks that promise to transform the future - but then again there is just no way a value-based long term investor can look at the Internet stuff your into and not feel sick.

A few (very few) others seem to agree -
members.aol.com

No offense meant James, I know you're a FSII fan at heart and have done well investing. I'll keep your chair warm here and save you a beer while we wait for your return. :)

Joe
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