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Technology Stocks : America On-Line (AOL)
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To: PDL who wrote (2920)1/20/1999 12:22:00 PM
From: Tunica Albuginea  Read Replies (1) of 41369
 
PDL, Alan G. just said about the current market " I think that everybody would agree that valuations are currently at the high end and that is all I am going to say now ", and he smiled and congresspeople chuckled.
Can we say that they are not ready yet to tackle internut valuations as " irrational exuberance " as yet? I deduct from this that people sense that the web is a much bigger event than the biomedical stock mania was in the 80s. I think any doc would have told you were crazy to believe all that hype. I certainly didn't buy Amgen at $35. ( Of course I never imagined that Congress would spend the Nation's inheritance on it, so I guess I was wrong on that side ).
But the Internet I think is a much wider and deeper revolution, the biggest since the invention of the PC and at least equal to it,

TA

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Re: Also look for Greenspan to come out (I think he's got an address scheduled for tomorrow) with some "irrational exuberance" comments especially directed at Internet stocks. This will be coupled with actions underway by NASDAQ aimed at taking the fizz away from inut stocks and investors. Just MHO, but I wonder what this might do to some of the high-flyers... In the long-run, the market will reflect the realities of the market, so I don't think manipulation from Greenspan or Bubba "work" long term, but I do worry about the short-term. Welcome your thoughts.
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