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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Scarecrow who wrote (2208)	12/15/1999 9:03:00 AM
From: Mad2	Respond to of 3543

Congrats.....hope your luck holds out. I've gotta tell ya, the day will come when the buy and hold strategy will look foolish. Eventually a stock has to be valued based on the return of cash to its shareholders. During a growth period or period where the companies market is developing one must us a bit of imagination. Given that the world is populated by salesman and optimists (at least in bull markets, such as we have now) these imaginative assumptions tend to be a bit rosey (or tulipy to be consistant with the thread). What is being ignored are barriers to entry and speed of change which necessatates reinvestment. When you own something (buy and hold) you want a moat around your space.....the internet is totally new, rapidly changing and so forth. Ultimatly the consumer will be the benificairy due to competition. Business that have a deep and wide moat will be the ones to profit......my worry is change is so fast and rapid I don't feel I have the knowledge (technological and backroom) to know what I can buy and hold for 5 years without a problem. Mad2