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To: d:oug who wrote (47133)	1/17/2000 1:39:00 AM
From: d:oug	Read Replies (1) \| Respond to of 116752

World recognized Le Metropole Cafe (Bill Murphy of GATA), has a nice article. Don't worry paying Cafe members, since it's not a GATA specific commentary you will not feel aCheated of your $99/year membership since I will not post it's contents here. But, yes yes yes, there is a "But". But the information shines light on the current market BuBBle with a focus on the internet, the way we perceive the world, conduct commerce and basic business operations, and does a reference to a 'free to view' web site of a person named Chris Leither. The Kiki Table Discussion du Jour: Potpourri John Menzies CMI Capital Ltd jmenzies@cmi-capital.com 16th January 2000 The Internet - the End of Commerce as we know it? We live in exciting times..... ... as Chris Leither leithner.com.au points out quite rightly, "if consumption is non-rivalry and non-exclusive then the establishment of property rights will not be straight forward". It is property rights and their quality which at least provide a foundation for long term corporate profits. We suggest that a seller who lacks..... ...for a product will find it hard over a period of time to consistently profit from the sale of the product. ...competition soon arrives and profit margins are quickly and unpredictably eroded..... Put frankly we believe that the internet is a poor platform for..... For those of us bent on building businesses with long term profits and growth opportunities or investing in such companies what does the internet offer? For the investor..... For those business..... The internet boom has like a thorn bush grown in the fertile soil provided by the widespread adoption of personal computers and has been fertilized by easy money in the US markets..... ...in a company - just in case you had forgotten what that was. [end] Bill Murphy, Le Patron, Le Metropole Cafe lemetropolecafe.com Send mail to lepatron@lemetropolecafe.com with questions or comments. Copyright 1998 Le Metropole Cafe