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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (36313)	5/23/2000 6:05:00 PM
From: Monty Lenard	Respond to of 77400

JRI, I don't think there is any doubt there is a valuation problem but that is not the problem NOW. The problem now is ATTITUDE. It has totally reversed from the mania to the "I don't want the cheeze just out of the trap" analogy I used earlier. Plus, valuations did not count on the way up and they won't count on the way down. As far as the REALLY BIG PEOPLE ... I think most have been short for a while now. Except SOROS. G Here is 2 quotes I am gonna share ... if I have already posted them here I appologize. ************ After a boom the public is positive that nothing is going up. It isn't that buyers become more discriminating, but that the BLIND buying is over. It is the state of mind that has changed. Prices don't even have to go down to make people pessimistic. It is enough if the market gets dull and stays dull for a time. ***************** and then after losing millions on one particular trade "To learn that a man can make foolish plays for no reason whatever was a valuable lesson. It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind. It has always seemed to me, however, that I might have learned my lesson quite as well if the cost had been only ONE million. BUT FATE DOES NOT ALWAYS LET YOU FIX THE TUITION FEE. She delivers the educational wallop and presents her own bill, knowing you have to pay it, no matter what the amount may be." ************* The recognition of our own mistakes should not benefit us any more than the study of our successes. But there is a natural tendency in all men to avoid punishment. When you associate certain mistakes with a licking, you do not hanker for the second dose, and, of course all stock market mistakes wound you in two tender spots....your pocketbook and your vanity. But I will tell you something curious: A stock speculator sometimes makes mistakes and knows that he is making them. And after he makes them he will ask himself why he made them; and, after thinking over it cold-bloodedly a long time after the pain and punishment is over he may learn how he came to make them, and when, and at what particular point of his trade, but not why. And then he simply calls himself names and lets it go at that. Of course, if a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers and cousins of the original. The MISTAKE family is so large that there is always one of them around when you want to see what you can do in the fool-play line.