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Technology Stocks : Excite [XCIT], an exciting stock to own in 1999!
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To: Olu Emuleomo who wrote (2186)9/11/1998 4:50:00 PM
From: Derrick P.  Read Replies (1) of 3183
 
Olu,

I guess this explains it better than I can:

Message 5725312

Esp.
These investment firms are playing a huge and cynical game. They know
better than anyone that companies like GeoCities (GCTY:Nasdaq) (which
Goldman Sachs took public earlier this month at $17 per share) and
Broadcast.com (BCST:Nasdaq) (which Morgan Stanley helped underwrite back in
July) are really nothing but financial junk deals with no hope of ever
standing on their own as self-sustaining enterprises. Indeed, the
registration statements for both IPOs say as much flat-out, warning
investors that neither company has any expectation of earning any "net
income for the foreseeable future."

and

Ah, this whole thing is making me sick. These deals stink. And at the end
of August, the market finally began to smell the rot.

Regards,

Derrick
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