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To: Saturn V who wrote (131843)	4/6/2001 5:13:12 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 186894

Saturn, <I based my comments upon my experience of the collapse of the market in 1974.> Wish I had known about 1974 a year or two ago. The only thing I personally remember about that year was that I was born. ;-) Tenchusatsu

To: Saturn V who wrote (131843)	4/6/2001 8:00:40 PM
From: Noel	Respond to of 186894

Very true!! It seems that this happens every 20-30 years. I think before the Nifty-Fifty of the 70s there was a period in the fifties when a few stocks sported PEs of 60 and above. This phase end around 1963. Of course, most people know what happened in 1929 -- which was thirty years before the late fifties. Of course, not having lived through these periods, I lost my shirt in this market. The basic lesson I am taking away from this experience is that I will be conservative until the next bubble at which point I will get into "growth stocks" and get out after a moderate gain. Maybe I haven't learned yet :-) --noel

To: Saturn V who wrote (131843)	4/7/2001 3:29:45 AM
From: Joseph Pareti	Respond to of 186894

Re . Finally the high PEs came back in the last few years. A new generation of analysts and investors arrived with no memory of the excessive euphoria of early 70s. And no understanding either --- just look at this example -- eBay vs AMZN "Success on the Internet is about capturing mindshare through aggregation. Amazon has done a solid job of aggregating products and making the experience simple, but its debt has put itself into a position of weakness. eBay has become the ultimate product aggregator, but it is still working on simplicity. When it perfects simplicity, it will be THE online retail destination." Simple isn't it ? So simple that EVEN Meeker didn't get it. fool.com Finally, given that memory on the street is so short (and intelligence too) it' s just a matter of time till the broken record will start spinning again ... new zilla, new Meeker, ad infinitum.