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To: Jock Hutchinson who wrote (19844)	8/27/1999 12:59:00 PM
From: E. Graphs	Read Replies (2) \| Respond to of 25814

Interesting story, Jock. So ........what happened to Phil Immergluck and Mark Goldfarb?

To: Jock Hutchinson who wrote (19844)	8/27/1999 9:12:00 PM
From: sea_biscuit	Read Replies (2) \| Respond to of 25814

The moral of this story? Perhaps two. The first is that a lot of the new Internet wealth is utterly chimeric. The only people who will truly profit are those people who have successfully peddled their second and third tier stock in IPOs to a gullible public. Their net worth will dive, but they will still emerge as very wealthy people. On the other hand, the fools who bought stock in these companies will provide the labor market for third shift America and employment for BK attorneys Ha ha ha!!!! Couldn't agree more with this. The second moral is that people like Dipy would have had the discipline to have bailed from a stock like APAC long before it hit its current nadir--if indeed they had even invested in such a stock. Well, has APAC paid dividends? Have they increased it ten years in a row? If not, they are out! Interestingly, the only times I violated the above discipline, I got really creamed -- 1. SGI, which I bought thinking it is one of those "super stocks" after reading a book with the same name by Ken Fisher. And 2. TMO -- which I bought because it had 10 years of increasing earnings but has never paid dividends. I let the tax tail wag the investment dog for once, and got burnt on that one! I realized that a company that pays no dividends has no real floor on its stock-price once it starts to skid... And while people on this thread can rightfully anticipate halcyon days ahead, they might want to take a little off the table at some point in time. One must always keep in mind that the psychological pain of losing vast sums greatly exceeds the pleasure in accumulating the same sums. Very well said. Right now, I can take a 20-point move either way (up or down) on this one and stay cool. Now, how many of the longs can say that? I doubt if there are more than a few of them around.