hg, i went over this reality perception thing last year when mu was roaring through 52 week highs while dram pricing was crashing. i was told perception was reality. reality whooped up on perception as lower prices turned into massive losses and a near 70% decrease in stock value.
perception isn't reality. the problem with your argument, imho, is that perception doesn't even come close to matching reality quite frequently. now, perception can feed off of perception in a positive spiral - and it has been doing just that. hence, the higher net stock prices.
however, over time, reality tends to influence perception. if there is a disconnect then your the positive perception spiral breaks down. your "never crash" theory doesn't address that the nets may never make serious money over the long run. THAT is the issue. not the hype. not whether the net is greater than the wheel.
what is reinforced is perception. to a much, much lesser extent perception can impact reality. "the net is great b/c everyone says it is great, why don't i buy a book from amzn." problem is, the more books amzn sells the more they lose ;-)
reality bites and, imho, it will eventually bite the nets. and hard. very hard. nobody will pay $10-50 billion for companies that don't make serious money forever. the other alternative is that my perception of reality is wrong. really wrong. time will tell.
when reality starts biting at the heels of perception, i don't know. i think we have to be close. to be honest, i thought that at much lower values, so take that prediction toungue in cheek.
>>Lets not compare degrees. I like to think I have more depth than that.<<
it was you who stepped out of that "depth" and into the shallows to challenge cb's intellectual maturity (ad hominem attack - get personal and avoid the issue). now that you've had several serious degrees thrown at you, you are all of a sudden above what you started? Say what?
and you don't think anybody notices? NOT! ;-) |
