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Technology Stocks : FreeMarkets Inc-(FMKT) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (323)	4/23/2000 9:35:00 AM
From: wooden_nickel_2000	Read Replies (1) \| Respond to of 414

I think you have really latched onto something with your comments on FMKT. I happen to believe in the free market system and am a long time follower of the securities markets. I like to think that our system gives everyone an opportunity to invest and take their chances on a relatively level playing field. Some days you win, some you days you lose, and some days it rains. I did not follow FMKT as an investment in the early phases. I was aware of the company from their business activities but not as an investment. I was, and still am, an admirer of sorts. I have worked with suppliers on the bidding side and, on more than one occasion, have suggest to potential clients that there services be considered. I continue to do so. When the IPO came out last December, I was shocked. A was quite aware of the mania surrounding the tech issues and the Internet phenomena, but could not understand how FMKT could possibly be grouped in this wave. My curiosity was aroused and I started researching the S-1 and reading all the announcements and PR. It then became quite obvious what was happening. The company was describing itself in such a way that it was quite easy for those not familiar with who they are and what they do to become very confused. It was this spin that had allowed them to latch onto the Internet phenomena. I think it is quite natural and normal for any company to try to describe themselves in a way that meets the current fashion trends on WS. However, in my opinion, the financial PR surrounding this issue has crossed WAY over that line. This is not good. This kind of misdirection tends to undermine the confidence that people have in the whole securities market. Hey, if a company is an Internet company and Internet companies are really hot in the market, so be it. I may invest in a couple myself. However, if it is not an Internet company and yet works in every way possible to describe itself as one, that offends me. Case in point -- FMKT. So where do we go now? FMKT has said about all they can. The story is starting to sound a bit thin. I think investors are starting to look through the "BILLIONS OF DOLLARS" in actions held "spin" and notice the actual revenues and losses. Each reporting quarter will drive this point home more and more. The consulting business has a somewhat self limiting nature. Once products have been prepared for open market procurement, the next time around is much easier. Less work. Less work means less fees. FMKT still has a lot of potential new clients out there, but the list is not inexhaustible. It still takes a certain volume to make the process work. Smaller value items or quantities can not justify the consulting fees involved. More about the FMKT "spin" to follow.....