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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (38775)	2/1/2000 4:52:00 PM
From: pater tenebrarum	Respond to of 99985

sandeep, since you apparently have read some of my posts on the subject, why ask for yet another explanation? btw, i do not deny that an important technological revolution is happening, i merely disagree with the bulls' view that it justifies a p/e of 200 on the NAZ and guarantees forever rising stock prices. the p/e expansion is imo mainly a function of money supply and credit growth which has been excessive during the past decade. anyway, a here's a crash course on how to spot a bubble - note that i don't agree with everything that's said there, but it's still a quite concise overview of the bubble theory and certainly worth a read: gold-eagle.com

To: sandeep who wrote (38775)	2/2/2000 1:05:00 AM
From: KyrosL	Respond to of 99985

All this massive change ought to lead to riches for somebody Seems to me that by far the biggest gainer is you (the consumer). You are doing for free things that in the past would have cost you a fortune. For example, think how much of your money goes to Yahoo, even though you use it heavily, then think whether that justifies its quadruple digit p/e. Last year my net payments for use of the internet in ISP fees, subscriptions, etc. came to around $300. I estimate that the net benefits I derived from internet use -- access to investment and other info, service and goods discounts, discount stock trading, e-mail, etc. -- were more than $30,000. I don't see my internet use bills increasing very much in future years. And I expect to get more free or very low cost additional benefits in the future -- one that's pretty close is easy virtually free long distance calling; MCI will be very unhappy about that, I am sure.