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To: A.L. Reagan who wrote (1582)	3/14/2000 8:06:00 PM
From: leo_bloom	Read Replies (1) \| Respond to of 3070

A.L., I wouldn't want to be short Infospace right now, either. It could rebound tomorrow. But as your posts indicate, there looks to be some real competition for Infospace in a wide-open, comparatively low-entry-barrier industry. Another thing that made me nervous with this holding is my perception of how different the psyche and demographics of the investment community are today than, say, five years ago. I myself am one of those raggedy little individual investors who can now make online trades without a broker, but at some point we have to ask ourselves: "Who the hell left the gate open?" Pure price momentum seems to be driving the Nasdaq now. Fundamentals are a joke. The S&P 500 quit participating a few months ago, as did the DOW 30. Technology is definitely real, and it would be foolish to ignore tech issues and internet-related companies, but I really have concerns about the emotional underpinnings of the Nasdaq run in 2000. The flight of companies like INSP has come to resemble science fiction. I do think INSP could keep sinking, and perhaps precipitously, if we get more ugliness in the Nasdaq tomorrow. But again, who knows? We'll see. Either way, it was fun riding my little INSP wave. Leo