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To: dbblg who wrote (86162)	12/3/1999 7:43:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

Ganesh: Thanks for the post. The issue here is not whether net prices for stocks like YAHOO (not CISCO which is not a net stock) are up -- they are up, that is a fact. Nor is the issue whether they can go up some more -- clearly they can. The issue is, why bother to be concerned about whether these stocks are going up for rational or irrational reasons? I say the reasons are irrational. You seem to think the reasons are rational. It does not mater, except for one thing: If it is irrational, then it will, eventually, end, and end badly. The evidence on the irrational side is substantial. The evidence on the rational side comes around often to some variation on 'I believe' in these stocks -- itself an irrational impulse unless you have something to base that on. The weakest argument is that made by Robert -- 'it is rational to believe that they will go up because they did go up even though many people thought they would not go up, so those people who are non-believers are irrational (and dumb) and they should just learn to 'believe'. Lump them all together? It is a mania -- things get lumpy in a mania.