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Technology Stocks : Seagate Technology
STX 325.99-0.1%Jan 20 4:00 PM EST
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To: William Epstein who wrote (6897)2/21/1999 10:26:00 AM
From: Kevin Linder  Read Replies (1) of 7841
 
William, I figured that you did know what you meant my point was a clarification for the other readers. I haven't attacked you for your beliefs regarding the specialists. I am not sure I agree with you either.

We may be moving into a different market era with the prominence of hedge funds and internet trading. I know back prior to the 90's well over 90% of all shorting was done by the specialists on the floor of the exchanges. I do not know if that figure is accurate today. Many hedge funds are "vulture funds" that viciously attack the stocks of companies they perceive as overvalued. The internet is the perfect medium for placing hype and gloom rumours.

I wonder if 60 years from now history will look back on this time in the market like it did the 20's and the tulip bulb craze in Holland in the 1600's(?).

I have read about Armand Hammer and it does make fascinating reading. I believe every one who wants to find out more about how the stock market works should read some of those biographies. Other people to read about are Joe Kennedy; Aristotle Onassis; Carnegie; Rockefeller; Fisk and many of the other "Robber Barons" of the past.

Take it easy and keep that optimistic attitude for SEG will you William ;)

Kevin Linder
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