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To: goldsnow who wrote (55329)	6/27/2000 10:32:00 PM
From: LLCF	Read Replies (3) \| Respond to of 116925

<But the fact that these two bellwether Net brokerage stocks sell at P/Es like the Goldmans and the Merrills means that the market says a Net business isn?t any different from a non-Net business. > Yea, duhh, right? I never understood how these business models assumed that a net company could sell Lands End shirts for instance cheaper than Lands End. Whatever... Wonder when the market is going to figure out that current earnings growth assumptions based on similar productivity assumptions are just as 'pie in the sky'? DAK