Smart,
<<I do not think you want to compare with me in performance or bank account.>>
I'm sure I speak on behalf of the entire thread when I say that it is truly an honor to be graced by your presence. Especially when you could be busy counting and recounting the shekels in your safety deposit box. We're not worthy....
<<I just feel it is not right that we should let a mania run wild in the market. This kind of mania is kind of like a virus, we need to kill it before it gets out of hand and make people sick. >>
Supply and demand is what determines a stock's price, wouldn't you agree? If more people want the stock than are willing to part with it the price is going to rise.
By mania, I presume you mean that demand is far outstripping supply, thus causing a rise in prices. Well, the beauty of a free market is that everyone is entitled to their opinion. There are lots of investors that feel on a fundamental basis, YHOO is overpriced, will never get that much revenue, yada yada yada... But, there are MORE investors that think the potential is enormous and want to own it now. So, what you refer to as a mania, I refer to as a supply/demand imbalance.
And how would you propose that we, whoever that is, "kill the mania". Do you mean do away with the free market? I guess we could institute socialism and allow everyone to own a piece of YHOO (albeit pretty damn tiny), McDonald's, Citibank et al. No one would get cheated, we'd all get our fair share. But then the country would start to look like Russia and having recently traveled deep into the center of that country I can tell you that is not where you want to be.
We all appreciate the risk associated with the internet stocks. I don't think there are widows and orphans pouring their life savings into this stock. I agree that it would be foolish to put 100% of one's capital into the internets. However, allocating a portion of one's tech holdings to the internets sure seems prudent at this point doesn't it?
I used to be on your side. There's no way its worth X billion$. So I shorted and the stock continued to rise. Finally, I cut my losses and went long. I'm much happier...
I'd like to write more but I've got to go spend some profits on a Friday night. Have a nice weekend,
Chuck
And, by the way, what is your name? I hate addressing people by an alias.... |
