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To: chic_hearne who wrote (9187)	8/8/2000 12:10:06 AM
From: Ken98	Respond to of 436258

<<A first-of-its-kind study of the more than 170 IPOs brought to market since 1996 by Wall Street's eight largest and best-known equity underwriters reveals the astonishing fact that as of this writing, the stocks of the dot-com sector have turned out to be a bonanza for institutional investors — and a colossal sucker's bet for retail investors in the public aftermarket. ... As the boom continued, this in turn enabled underwriters to bring increasingly shoddy merchandise to market, even as retail investors wound up paying higher and higher prices for the increasingly shaky offerings. In the end, the retail investors became the dot-com bubble's Greater Fools, standing there with outstretched arms to buy what the smart money was all too eager to sell.>> msnbc.com Like, duh....