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To: Bill Harmond who wrote (87122)	12/11/1999 4:40:00 PM
From: GST	Respond to of 164684

Willaim: <That's not helpful. "Can", "might", even "will" are not helpful.> Huh? These are the same words that are used to hawk your favorite stocks.

To: Bill Harmond who wrote (87122)	12/11/1999 4:56:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

FWIW: In the months since we began to discuss things, you have had more influence on my thinking than I seem to have had on yours. I would like to thank you for forcing me to think things through -- primarily the most important lesson for all investments -- namely, that the market rules, and the market is driven by supply and demand. Valuation can be a useful concept, but there is only one valuation that ultimately matters -- the price set in the market. Nothing has intrinsic value. Nothing has a price limit -- high or low. YAHOO is worth what it is worth because the market says so -- and if the market changed its 'mind' and decided Yahoo was worth 99 times more, or 99% less -- then so be it.