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Technology Stocks : Oclaro, Inc. (Avanex-Bookham) -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (897)	11/12/2000 2:09:21 AM
From: Raymond Duray	Read Replies (2) \| Respond to of 2293

The entire sector is not going to disappear. And that's not what I'm arguing, I'm saying that delusional retail investors are eventually going to run out of greater fools in an industry that is always "jam tomorrow" as far as delivering profits. And that, my friend, is eventually what serious investors are going to demand. The dilettante dreamers are going to fall like, well, let me give you an example. I have a friend here in town who had great faith in the vision of George Gilder. Last year, he made himself a millionaire for a brief time in Q. Then he took a portion of his winnings there and put it into GSTRF, buying 10,000 shares at about 40. He still owns both, Q down by 70% from the top and GSTRF trading at 2.19. My point, and I do have one, is that the FO sector is not going to be immune to the repricing that is going on across the Nasdaq landscape. Morgan Stanley is a very nice example you've provided me. Have you tallied up how much money has been lost in the public markets based on the vision of MSDW's Mary Meeker and her ilk? Any ideas? Well, the figure is $1.7 Trillion. That's trillion with a T. Stamp that on your Morgan, Stanley file. Now I'm not blaming her for the demise of silly valuations in the dotcom world. But I would think that she bears some responsibility for helping push valuations to the lofty and unsustainable levels they reached. Question: Who pay RHK? Do you? Do they serve your interests, or those of the people paying the bill? Just the facts, that's all I want. Not boosterism, not cheereleading, not promotions, not pie-in-the-sky. [[See what a lousy election result can do for my mood? Scary stuff. Imagine what I'll be spewing to the thread in a week when we approach a Constitutional crisis... <gg> ]] -Ray