To: Kayaker who wrote (9831 ) 4/27/2000 2:46:00 PM From: Wyätt Gwyön Read Replies (1) | Respond to of 24042
assassination of JFK Let's not get too melodromatic. At this point in GG's career, it's pretty obvious that a strong recommendation by him is basically a license for traders to bid up the lucky stock by 50% plus. I started referring to the "Gilder flip" last summer, and took advantage of it. Easiest way to pay your dues back then. Now the effect has reached ridiculous proportions. Gilder can hardly be blamed for being so popular, but that position of power presents numerous challenges (not the least of which is finding a fair way to "broadcast" his picks to members before the message boards get hold of them). To the extent that the relationship with Merrill is more than just a mass subscription for all their brokers, small-fry subscribers have a legitimate concern in wanting to know some of the details. Personally, I see no reason to subscribe anymore, given that a) it is much more difficult to get in early on his picks now that he is so "discovered"; and b) the actual "content" of his newsletters shows up for free later anyways; and c) I believe there is a disconnect between the ostensible and actual purposes served by GTR. GTR is supposed to be "listening to the technology". But really (in terms of how the market reacts), it is "listening to GG's picks". GG says he doesn't "do valuation". But the market has recently indicated that valuation is, at least sometimes, uh, important. So, I think there's some inconsistencies in paying for something that's supposed to be about long-term technology trends, but in its real-world effects is really about short-term price movements, written by somebody who claims not to focus on valuation. I guess GTR shows the Heisenberg effect is not limited to particle physics. All JMHO