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To: bambs who wrote (34391)	4/25/2000 11:05:00 PM
From: brownu88	Read Replies (1) \| Respond to of 77400

Because the institutions control the majority of the float, the underlying assumption that "most investors have been buying stocks for the last few years because they are going up, not because they understand fundamentals" is clearly erroneous. Economics is a social (dismal) science. Those who would create theories to describe, explain, and predict (yeah, right) the market should at least build their theories on solid research and data. Otherwise, the message and the various messengers, in times like these, reek of 'short agenda.'

To: bambs who wrote (34391)	4/26/2000 9:52:00 AM
From: Ken D	Read Replies (2) \| Respond to of 77400

But things are different today. They really are. Those technologies that you mentioned took decades to become pervasive. Today's technology disperses into society at a much higher rate. Surely you've seen those charts that show that it took 40 years for 60% of Americans to have cable, XX years to have color TV, so many for PCs, etc. Each wave comes faster and faster. In fact they weren't wrong about the impact of technology in 1929, they just didn't realize how long it would take.