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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (396)	5/22/2000 12:12:00 PM
From: Eric Wells	Read Replies (1) \| Respond to of 57684

The economic rules still matter, as they always have. Risk still matters. Glad to read this coming from you. I would venture to say that "new economy" is a misnomer. I don't know how you conclude that anyone investing in new economy stocks is "blindly optimistic". Considering that many companies that fall into the "new economy" category have made no or very little profit, and the fact that many of them are on the brink of bankruptcy, I think the expression "blindly optimistic" is appropriate. For once, it would be great to hear you say that there has been a great deal of unjustified optimism in propping up the values of many internet stocks that have recently tanked - whether it be VIGN, VERT, PCLN, EELN or others. But I doubt you will ever write about this - I believe instead, you will write that the recent fall in these and other stocks as being due to a natural and "healthy" correction in the market, and that it is natural for the market to swing up and down in such a way. In my view, this is a severe distortion of the truth. -Eric