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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Cheeky Kid who wrote (2886)	5/24/2000 2:07:00 PM
From: Mad2	Read Replies (1) \| Respond to of 3543

CK, No doubt the internet thing is neat and will change things as have other inovations before it (eg telephone, radio, TV, RR's etc...). We are comming out of that <honeymoon period where valuations have been based on absurdity and imagination. As in the case of marrage and the honeymoon, valuations have envisioned only the (good) possibilities and have discounted or ignored the realities (earnings and cash flow). Well, now that its the morning after (prompted a bit by the Fed) and financiers, VC's and investors are beginning to consider what the future may be like, without the unrestricted flow of capital. Its going to be a interesting 3-18 months (hope it doesn't last longer than that) to see how things play out in a restricted money environment, particularily given the techs as a group aren't know for their positive cash flow. Mad2

To: Cheeky Kid who wrote (2886)	5/25/2000 12:51:00 AM
From: $Mogul	Respond to of 3543

EBAY $50 by EOY split adjusted(hopefully lower like $25 but...., and it will test a $35 sometime this year..YHOO, well hoping to see it at $50 one day soon. When these stocks finnaly turn over..the mkt. might be able to bear fruit again.

To: Cheeky Kid who wrote (2886)	5/25/2000 4:13:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 3543

>>>>new Paradigm<<<<< new valuation metrics new economy new era yadda yadda yadda these are the same rationalizations people used for valuing tulips at the top in Holland, dow stocks at the top in 1929, tron stocks at the top in the 60's and early 70's. sure some of these business will survive the internet shakeout and be prosperous. but paying up BIG for concept stocks, with unproven business plans, just because they have com, net, link, data, ram, global is a tulipmania, everybody has to own some promise of riches, and everybody does. the mania extends to your mainstream tech companies who "investors" have bid up to valuations beyond fantasy. That is another thing people confuse themselves with in the delusion of a mania, they think they are investors, when in reality they are speculators. warren buffet is an investor.