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Strategies & Market Trends : Gorilla Game Investing in the eWorld -- Ignore unavailable to you. Want to Upgrade?

To: Seeker of Truth who wrote (543)	11/4/1999 12:22:00 PM
From: StockHawk	Read Replies (1) \| Respond to of 1817

SFE IPO Pac West just started trading. Jumped from the $10 offering price to around $20 in a few minutes. Looks like 8 million shares traded in no time. USIT has been moving up also, and SFE itself is around $100. It will be interesting to see if SFE falls back after this IPO (as it did after ICGE/USIT) or if it will stay up. I think one more IPO should hit before y/e. StockHawk

To: Seeker of Truth who wrote (543)	11/4/1999 4:24:00 PM
From: Seeker of Truth	Read Replies (1) \| Respond to of 1817

Tekboy raised a serious question about ICGE, i.e. how could one justify the price. I responded in a qualitative way. On further thought I think I was talking nonsense. If somebody says they are investing in a gold mine. we'd ask only quantitative questions, i.e. how many kilos of gold are probably there, what's the cost of extraction per kilo, in how many years can you dig out the gold etc. If he replied that "numbers don't matter, this is gold you know, it's eternal," we'd just feel sorry for him. Thinking this over I took Tekboy's hint and sold it at 155. IMHO there's no way to justify the price. It turned out I could have gotten 168 from a "greater fool" than I.