Well, I will respond too !
In the long run, KIS has called things right...It may take or have taken longer for the net stocks to unravel than he thought...I know he felt it would happen all at once on Jan 2/99...it ain' THAT easy...
But, it is amazing how many educated people have deferred to the 'you can't use traditional valuations' concept on the net stocks...
I don't always like how the messages are presented and I have been turned off too at times, however, the message itself is intact...
One of the keys is that there is a high likelihood that these guys care about one thing, their pocket book...Just as day traders have taken stocks they know nothing about for rides, the ceo's of the net companies have done the same...Get filthy rich first and if there is a profit later, well, bonus ! People do only care about themselves, and I have seem many small caps where management is hired, only to go in with a hoover , suck everything out and then say, gosh golly, competition, yada yada, sorry, we are bankrupt...
Another problem people have is lumping all net stocks in one basket...
Certainly the internet is for real, but if I were buying in, it would be the infrastructure of it, perhaps a cisco, or aol much cheaper than today. or FDX because someone has to ship the stuff...But any teenager can create a website. Companies like cat or dupont cannot be recreated...
We must separate the potential and revolutionary aspects of the web from the tulip prices of the companies involved with the web...
thanks
Howard
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