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To: Tim McCormick who wrote (27404)	7/30/1999 12:39:00 AM
From: Jeff Dryer	Respond to of 41369

Tim, Your concern is my concern. >they are more subject to event driven mood swings than if market >valuations were based upon the more solid foundation of a discounted >future cash flow model. It's all just a huge casino right now. Very well stated. The Markets have been corrupted by many different forces. It is currently a complete joke and dangerous to the future of the U.S. economy. Everyone's expectations are so high now... many people expect 100% returns per year from their stock investing adventures. Many new MBA grads are turning down $100,000 per year jobs to work for a low salary and options at an Internet company and expect to become rich and retire within a couple years. Many people with successful careers and family can't stand missing out on the Internet craze any longer and are quitting their careers to join Internet companies too. Hundreds of Internet companies are going IPO that shouldn't be and at valuations that are insane. eToys valued at $8 billion on IPO day with less than $10 million in total revenue generated since inception? At some point, reality will set in. We will not only have a recession but an expectations depression.