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To: GST who wrote (108230)	9/10/2000 10:16:18 PM
From: Sarmad Y. Hermiz	Read Replies (2) \| Respond to of 164684

>> I would wager that not one in one hundred tech investors see any connection between energy prices and their tech-stock portfolios -- that, Sarmad, is my point. If the same proportion did not understand the role of interest rates, << Well, GST, now you really have me puzzled. The highest increase in tech stock prices in history occurred from 1998 to early 2000. A period during which the Fed raised rates several times, and oil prices went up from $12/brl to $30+. Is any of this incorrect ? Where do you see tech stocks dropping due to interest rates or oil ? Semi's have their cycle of capacity and demand, comm stocks have their cycle of infra-structure and technology rollout, etc.... If you had bet that tech stocks would drop in '98 because the Fed was raising rates, how successful would that bet be ? Thanks for the good luck wish, I might need it next week.