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To: Zeev Hed who wrote (78519)	3/11/2001 3:29:29 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

Rampant growth of money and credit were secondary, I guess as was the reliquification in the fall of '98 and the feeling after that period that one cannot lose investing in stocks. Sometimes I just get the plain giggles from your explanations of cause and effect -- it almost sounds as if you think tax policy is the main driver behind everything ...

To: Zeev Hed who wrote (78519)	3/11/2001 3:50:28 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

the bagholders aren't the VCs anyway -- it was the public and there was no shortage of brokerages and underwriters telling them what a good buy these were. Sounds like you think Blodget was just some independent analyst thinking for himself or something ... sheesh. The VCs who were only looking to market paper are also to blame -- your analysis is like blaming the gun mfr for the bank robbery -- I guess that's pretty popular these days ...

To: Zeev Hed who wrote (78519)	3/11/2001 3:57:06 PM
From: maceng2	Read Replies (2) \| Respond to of 436258

Zeev, In the UK there were a bunch of scam artists who used to run things called a "closed door auction" selling cheap trash to sheeple who were out looking for a bargain. The scam would include advertising weeks in advance of for bargains that would be sold for "pennies on the pound". They would then use a procedure to filter out the truely sheeple minded folks to sell trash to. This included selling "nailers" (as in nailing your intended targets feet to the floor) where they would actually take a loss selling some trinket below cost. The door would be shut to any who could actually see what was going on. The IPO business on the USA stock market looks similiar to me except we are talking on a much bigger scale. The dot.coms were dot.cons. Plain and simple IMHO. Am I wrong? BTW what is the USA words for "nailers" where you keep sheeple in on a expected "bargain" by giving them something up front (at a loss) so you can arrange the fleecing in full later? Just my view from what I've seen and heard, pearly.

To: Zeev Hed who wrote (78519)	3/11/2001 4:59:46 PM
From: LLCF	Read Replies (1) \| Respond to of 436258

< Don't blame the big investment houses (at least not too much), that big money heaven was created actually by the Clinton administration, and they truly did not mean it. The instituted a special "super capital gain" (in 1993, if memory serves, 50% of "normal LT Cap gains if invested for five years in a company having less than $50 M assets) , which had as a major result having "very big money" looking at how to take advantage of that (just as the special tax treatment of real estate, prior to Reagan changing the "at risk rule" created a bubble in real estate and the resulting S&L fiasco). > Zeev, In my opinion the investment houses role in the tech bubble cannot be underestimated. Without them recommending stocks and concepts at ridiculous prices many investors no doubt have turned away... let alone the fact that what got funding and went public were what could be sold, not what had promise to make money long term. The same dynamic of every bubble was present again... supposed 'authorities' tossing good judgement to the wind... note how only 'ideas du jour' got funding and went public.... biotech for instance had a short window of opportunity for funding IMO showing that the tax incentive itself was not THE driving factor. Another anecdote, the general public piled in big, they had no clue about tax breaks, the houses herded them into the shearing shed: sunday-times.co.uk DAK