UBID - an IPO spinoff of Creative Computers Message Board

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Technology Stocks : UBID - an IPO spinoff of Creative Computers

UBID 3.000

0.0%

Jan 21 4:00 PM EST

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To: jjs_ynot who wrote ()	2/24/1999 12:13:00 PM
From: George Gotch	Read Replies (1) of 581

Back to the crazy land again...guess buying of obsolete or used stuff is going to rule the world again... If anyone knew how to read a business plan or a prospect they would think twice on these deals but then, maybe people are buying for other reasons. But then I guess momentum (greater fool theory) rules the day.. (Note: this isn't a reflection on ubid or whatever, just the theory behind investing in some internet companies and me spouting off again) It is amazing, it is like people don't care or don't know. You have a ton of these companies trying to go public. .Why? Not to raise capital to really expand their business but ultimately to sell insiders shares at out of sight prices and become Billionaires! Why else would you get so many startups going public when ven capital money is easily available. I don't think we have ever seen anything like this in history, at least not at this level. Everyday, I hear of some lame net company plan of grandeur and how analyst and experts just fall over themselves to recommend them at outrageous value levels (and don't say valuations don't matter or I will sell you my used car to you for 1million dollars.) Really what is going on here seems to me like a large pyramid scheme. Companies formed over hopes and dreams knowing that is doesn't matter as long as the story is good, go public and let the investors bid it to the stars. Look at some of these deals! Do investors really think these things can make the money to justify the value of their stocks? Come on! 10 years ago these deals would be called Penny Stocks yes penny stock hope and dreams on garbage.. It is even worse now! I guess two things are going on. 1) Everyone knows this and it is just me getting a clue 2) People still don't fully understand market cap…(Share price * # shares outstanding). Meaning you have to raise this much to buy the company or better yet, could you spend this much and replicate the results? which in case of some of these net deals is not a lot. 3) No one cares and knows anything about the net just that the nets were going up and that is good enough. 4) Everyone knows this and I am just spouting off again. Well, no matter, the main difference between this and penny stocks is the price. the price and the market.

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