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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (64713)	7/16/1999 2:02:00 PM
From: Don Lloyd	Read Replies (2) \| Respond to of 132070

Ben - (...that 1/4 of all Microsofties are millionaires, not 100xmillionaires. ) Not even pre-tax? Maybe next month. -g- Thanks, Don

To: benwood who wrote (64713)	8/3/1999 12:48:00 PM
From: benwood	Respond to of 132070

The American psychopaths who bought drugstore.com at the open last Wednesday are already down 49%. Bummer... Even a cursory analysis of Ebay shows me that it's still well above what I would pay for the risk. And it's down 64% from its peak. There must be a lot of newbie investors who have nothing to brag about around the community coffee pot; perhaps they have found reasons to stay in their offices and pray. I think the most maddening thing about the aftermath of a bloodbath in the stock market is that stocks can get undervalued and stay that way for a long time. I think most investors think a long time is 6 weeks. Buy on the dip. Dip buys. I have to admit, though, since I haven't studied much economic history except a few things about '29 and also having invested through the '87 crash that I didn't actually realize how easy it would be for a bubble to form again. I think this time around the tools for sustaining it are better than ever; if history can teach, then perhaps it's simply taught those at the controls how to keep the plane aloft longer. Although the engines are more efficient now, but the fuel's still finite, the plane must gain altitude to avoid the savings downdraft, and there's no longer an airport on the map. And the radio on the plane is playing "I'm a Rambling Man."