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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (53036)	3/23/1999 9:26:00 AM
From: Eggolas Moria	Read Replies (1) of 132070

From today's NY Times: Anyone else remember University Computing? But Byron Wien, U.S. investment strategist at Morgan Stanley Dean Witter, is not so sure. "One thing that tech has going for it is it's open ended," he said. "The products and concepts are so exciting, these stocks can keep going up multiple points a day, weeks in a row. I don't think the potential of the financials and capital goods companies is that great." Now that tech is no longer driving the market, Wien believes its upside is limited. One longtime trader recalls another era when technology stocks led the market up: the go-go years of the early 1970's. IBM, Xerox, Polaroid and a technology conglomerate called University Computing were among the darlings that helped propel the Dow Jones average over 1,000 in 1973. One by one, they crumbled. And they took the overall market down with them.

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