To: Tommy Dorsey who wrote (8050 ) 5/21/2000 6:48:00 PM From: Shaw Read Replies (2) | Respond to
Tommy your thoughts are well founded, however I think there is a force that is strong and real, and that force should not be ignored. The build out of the brodband/ internet/ multimedia/fiber optic/wireless/interconnected superhyway is the largest build out of humankind to date. The returns from the exponetial growth of unsurpased information connectivity have yet to be realized . We had to go though this process of separating the real and solid from the vapor. The truely productive co.s that are part of backbone of the high tech infastructure build out are the ones to be in. These are the high tech co.s that will bounce off of their 200 day moving averages in here. Really, stop and think about it, we still are in the very early stages of realizing the benifits that will come from being so interconnected in so many different ways and on so many different levels of speed and broadness of band. From an investment point we are all very lucky to be able to be part this build out. As Americans we are very lucky to be citizens of the country that is in th e drivers seat of this build out. The present level of interest rates will not stop or slow this build out. This high tech build out is in our national interest. Even Bill Gates who up until recently didn't even fear the federal goverment, feared what the internet might do to his co. Greenspan doesn't want to be responsible for causing the the build out of the internet ect. to faulter. It is in our gov.s national interest continue to do its part to help facilate this build out. Interest rates will rise and then come back down, in the meantime this massive cross global technological build out will continue. How quickly we all forget that Greenspan also has a history of stepping in and lowering interest rates when it is called for. The only real supper growth game in town is technolgy. We are all just very lucky to be part of it. So irrational exuberance has been shaken out, this is good. These stocks have gone from weak hands to strong hands. Guess what, the people with knowledge and vision that own these stocks presently, have very rational reasons why they own them and guess what, they are still exuhberant but for very rational reasons. Think about it, there is a chip co.s ,whose chips are being used in the communication end of the build out,who's earnings are are growing at 98% per year. This co. was mentioned on Caviato this Sat. We will continue to see the techs move the market, because really this is the only real ongoing growth game in town. The real point is the ramification from all this is bigger than any of us can imagine. We may move off this low volume sooner than people think. Things are different this time, because what is happening is huge and this cycle going to last a while. Don't worry about the employment thing too much, there still many intelligent people in our cities and else where around the world that need and want an opportunity for skilled employment, and Co.s around the world need these people to help them build the future. Further more because these are high tech jobs, it means we are in the process of raising the intellectual standard around the world. Anyway one beneficial product of all this will be an increased shared consciousness of people throughout the world. In closing I think it is very important that we continue to support this build out because if we slow down at this critical point in time someone else will try and move into the drivers seat, and personally I think, that it is best for all around the world that we stay in the driver seat. So maybe we don't have the interestrate wind at our backs, but we are sitting on a tremendous engine of new growth, that with investors support should continue to power forward in spite of a little head wind. Just think of what going is to happen on the corporate and business end of things as this interconected network developes new levels of sophistcation. We are at the 200 day moving average for many of these really solid co.s, this is call to the strong hands to take a stand and hold line on co.s that deserved to be priced where they are and higher. This build out is in our national interest and ours and the worlds growth interest, as many co.s around the world are participating in this build out and often in joint venture with our own co.s
