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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Dr. David Gleitman who wrote (28609)	8/5/1999 6:27:00 PM
From: Bridge Player	Read Replies (2) \| Respond to of 41369

Warren Buffett has often commented on that phenomenon, David. He is always mystified and amazed that unlike with other purchases they make, the mass of investors always want to buy merchandise only when it is high-priced, never when it is available at fire-sale prices. BP

To: Dr. David Gleitman who wrote (28609)	8/5/1999 8:42:00 PM
From: Marvin Mansky	Read Replies (3) \| Respond to of 41369

Hello David: You are so right about investor psychology. I put it this way: "If tuna fish was on sale, you would by more cans to stock up. When stocks reduce in market price, the average investor doesn't see it as a "sale" and the sell. Just the opposite of what they would do in the tuna example. Moral of the story: Stay the course. It has bee extremely hard since July with AOL. I bought 3K shares at $125, and I didn't sell this morning. I would have like to buy more if I had the money at $77 but I know that the stock will be up, if not tomorrow soon. Case will not take the MSFT assault lying down. AOL is too big, and too successful to be "walked on" by anybody at this point. I am sure they will have the antidote to free Internet by Gates, which will never happen since it is too too costly for him.