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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: BigBull who wrote (60793)	2/24/2000 1:34:00 AM
From: dfloydr	Read Replies (2) \| Respond to of 95453

Hi Big Bull: Speaking of oil company valuations you say: "This is getting truly silly". Well the other side of the coin is even crazier. I got a call from an investment counselor friend of mine today. He was shown a presentation by Sanford Bernstein, a value oriented brokerage firm. I did not write down the exact numbers but it showed something like a 100 internut/tech IPO companies that to date have not earned their fist penny but instead, together, managed to loose something like $6.5 billion during 1999. Their combined market value, however, is something like $1.7 trillion, or exactly equal to the entire United States national debt. Hard to comprehend such extreme valuations.