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Strategies & Market Trends : Value Investing

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To: Dan Meleney who wrote (6916)	4/23/1999 1:01:00 PM
From: peter michaelson	Read Replies (3) of 78813

*Off Topic* IMO, internet commerce will eventually eliminate the fixed price paradigm. Everything will become auction, but in reverse. You want a new car. Announce it on e-unbay and the vendors will bid against each other for your business. A book, same deal. Airline tickets - want to go to Hawaii, get those airlines bidding for your business. We will all have lists of stuff we wish to sell, and when anyone wishes to buy it, you will be notified. This is how commerce works with large buyers today. The efficiency of internet communications will allow small buyers the same status. Think what this will do to retail. No more auto dealerships, just distribution points and service centers. No more book sellers - the publishers will sell direct and split the 100% mark-up with the consumer. The implications are quite enormous, but the market is valuing the wrong internet companies. In the end, it is simply another huge step in the efficiency of distribution, which has been happening for two hundred years. Peter

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