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To: GST who wrote (103405)	5/14/2000 3:25:00 PM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

GST, Regarding the new economy and particularly its winners. The winners of course are the creators and promoters of IPO's that know how to transfer money from the idiots to the savvy players. Several people at work (Engineers, technicians) resisted the momentum stocks until last Feb when they really became irresistible. And of course they bought (YHOO at 225, QCOM at 170, etc...) Well you know who the winners of those transactions were. But I have to quibble with you on something. One time you posted that $trillions were lost when NASDAQ went from 5000 to 3500. Actually the amount of money lost by hapless individuals is closer to $300 Billion. The way I figure that is $2 trillion market cap was lost. But that was mostly in stocks where the founding charlatans still owned the majority of the shares. So let's say the float is 30%. And of that let's say institutions own half. So the "dis-saving" to individuals and families is $300B. So far I have not seen a study of how that haircut should affect the Fed's propensity to increase rates. My guess is 1/4 point for next Tuesday. For that reason, I am fully invested now, with the expectation of a relief rally next week, even if the fed raises 1/2 point. My expectation is that CPI really under-states inflation by a lot. So it is not likely to come in very high, especially since the dollar is strong, and so imports are not showing inflation, yet. -Sarmad