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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Holtzman who wrote (29835)	9/22/1999 11:17:00 PM
From: codawg	Read Replies (2) \| Respond to of 74651

It isn't too tough to build a contrarian case for the impending doom based on all of the anecdotal evidence. Who hasn't received a magazine in the last 2 months talking about the IPO millionaires. Who doesn't know someone who quit their day job to trade the markets. Who doesn't know someone else who is rich because they worked for the right company and got equity. Of course, all this was true a year or two ago and we're up quite a bit since then on the Naz. As long as we can continue to grow GDP and production without inflation, then I believe any downturn is short lived. BTW - I thought I heard that story with a shoe shine boy but with J.P. Morgan.

To: Bill Holtzman who wrote (29835)	9/23/1999 9:24:00 AM
From: Eylon	Read Replies (1) \| Respond to of 74651

You're right - Bernard Baruch and the shoe shine boy. But this time it's different. No, I mean it! Even a stopped watch is right twice a day. We all heard the stories about the geniuses that were right in 29 and 87 and any other sharp drop in the stock market. Most of the times it is nothing but pure luck. Yes, the market will correct some time, but following some signal like the "shoe shine boy giving a stock tip" is plain stupid. Using that logic the market should have crashed in 1996, 1997, 1998, and now in 1999. All the professional bears are talking about crash in the last four years. They will be right some time just like the stopped watch. I wonder how many time in his life Bernard Baruch, or someone with similar views but not as lucky, sold everything and was wrong. Eylon