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To: Stephen who wrote (50563)	5/12/2000 1:47:00 PM
From: Ron	Read Replies (1) \| Respond to of 99985

It seems to me any volume below 2 billion on the NASDAQ is just treading water in preparation for another dive. No big buyers coming in yet...IMHO

To: Stephen who wrote (50563)	5/12/2000 1:57:00 PM
From: Stcgg	Respond to of 99985

Stephen.. 30YB Yield ~ 'IRRATIONAL EXHUBERANCE' Hahaaaa! >><<

To: Stephen who wrote (50563)	5/12/2000 1:57:00 PM
From: marginmike	Respond to of 99985

On bubblevision Red light means GO! They will say"People exiting lousey 7% returns in bonds to head back for the 30% guarenteed in .coms!!!!>"

To: Stephen who wrote (50563)	5/14/2000 1:35:00 AM
From: Stephen	Respond to of 99985

The times .. they are a' changing .... Sunday Times article (UK) Investors must sell shares or lose fortune Robert Winnett PEOPLE risk losing thousands of pounds unless they radically alter their investment strategies over the coming months, according to Britain's leading stockbrokers. Investors have traditionally been advised to "buy and hold" shares for up to a decade. But the strategy has been undermined by recent sharp movements in the stock market. Investors are now being told to buy and sell stocks regularly. They should be prepared to hold shares for months rather than years. Jeremy Batstone, head of research at NatWest Stockbrokers, said: "Now is the time to overhaul your investment strategy. Buying and holding shares will not work well and is unlikely to prove profitable over the next few years. In future, investors must have a disciplined approach to selling and not be too greedy." Warren Buffett, the American investment guru, is the best-known advocate of the buy-and-hold strategy and his speeches are avidly followed by investors. But last year he recorded one of his worst performances ever and could now lose his reputation. He made a profit of just 0.5% - compared with his average annual return of 24% over the past 35 years. Millions of small British investors have also been hit hard after adopting the buy-and-hold strategy, which had proved so successful until last year. Shares in some of Britain's most popular firms - which are commonly held by small investors - have plummeted over the past 12 months. For example, Marks & Spencer is down almost 40%, Abbey National has fallen 37% and British Airways is down 23%. Privatised utilities have also been hit hard. National Power has slumped 45% and Severn Trent Water 28%. Mark Tinker, a senior equity strategist at Warburg Dillon Read, an investment bank, said: "It is unlikely that these shares will ever recover to the levels they reached in the past. Things change fast and investors need to keep updating their portfolios. If you want to buy and hold, invest in a tracker that will keep pace with changes." Experts recommend that investors who hold shares directly should sell when a stock has risen in value by between 20% and 30%. Investors need to be ruthless about selling when they hit their target - whether this takes hours or years. A growing number of services available over the internet and via mobile phones will automatically contact you when your shares reach the price at which you should sell. Then do some research and reinvest in another firm that offers a good product or service. Private investors have unparalleled access to research and news about firms through the net, so an active buy-and-sell approach is feasible. Sites such as www.digitallook.co.uk, www.citywire.co.uk and www.bloomberg.co.uk should help keep you up to date. The thousands of people who employ discretionary stockbrokers may also have been hit particularly hard in the past year. Stockbrokers typically adopt a disciplined buy-and-hold strategy. The core holdings in most discretionary portfolios - utilities, high-street stores and banks - have suffered the biggest falls. Therefore, it is also worth checking on your stockbroker and demanding changes if necessary. Justin Urquhart Stewart of Barclays Stockbrokers said: "Blue-chip shares are a lot more volatile than they used to be and the pace of change in business has picked up enormously. "Although people should not check their portfolios every day, investors now have a responsibility to keep a close eye on their shares." Urquhart Stewart believes that Lloyds TSB, Cable & Wireless and British Telecom are good buying opportunities. Stephen