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To: ms.smartest.person who wrote (5600)	12/8/2000 11:29:02 PM
From: TobagoJack	Read Replies (3) \| Respond to of 6019

Hi Merry, Things in cyber Hong Kong are pretty dark, and getting darker. Some fund offices (i.e. Draper's #1 guy in HK just quit, to join an investment bank doing traditional things) are closing, some funds are returning $ to investors, other funds are not able to raise new and badly money; basically all investment operations, including the largest ones (PCCW, etc) are nursing toxic wounds or waiting to die. Many investee companies are announcing their deathbed preparations or severe (potentially fatal) amputations. There will be survivors, not many, who will dominate the landscape, but now it is all a crap throw. I am watching my pals being put out on the streets, resumes in hand, all telling the exact same story ... "how I got dotbombed". My pal who hosted last year's Japanese Restaurant catered party at his home for new year's has not made any preparations to do any celebration. He also has his resume in hand. I am, as usual, OK, being swift of foot ... run, run, and run still faster, into the darkness, into the forest, away from the thermal nuclear detonation impact and aftershock. The dotcom side of my business has vaporized and I am once again concentrating on power stations, manufacturing plants, insurance companies. The financial impact is small as dotcom was never of consequence on cash flow. The impact on time is large, as dotcom had taken much of my spare time given the fun factor. The reduction in fun is major, and so I watch the dotcom world gently slip below the waves, with romantic regret. Onward to other matters at hand and not look back, just as I left the Philippines islands to return to my HK business back in 91 (Gulf War trashed my real estate renovation effort). My wife has shuttered her TMT private equity investment business and is off and running on organizing a classic music festival for 2001. All her cyber enabled Harvard cohorts in Hong Kong are looking for an out of their respective cyber prisons. Main grumble during our group hikes through the beautiful HK country side "gad, it sure takes a long time to shut down these companies". Time better spent on searching for jobs. My portfolio has been replenished to December 1999 level by income from active work and by some trades (Philip Morris, Conseco) and place on a heap of very dry but boring cash. I still do some Yahoo trades just to keep in practice, but nothing of consequence should events not go my way. Added more to platinum and gold positions. I believe HK will get darker still. When does it get the darkest in HK? Right before it gets pitch black in the US. As ususal, I wish for a post Xmas/New Year frenzied rise of the NASDAQ. I am not positioned to benefit from the rise, but plan on selling my mom's portfolio at some frenzied point, and also plan to go short just when events look the brightest for Amazon. Never shorted shares directly yet. May simply sell naked LEAP Calls or more conservatively, buy LEAP Puts. Be careful. Chugs, Jay