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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: The IB Dude who wrote (39252)	4/23/2001 6:23:03 PM
From: Jeff Jordan	Respond to of 50167

Uncle OJ?<g> " He's old enough"<ggg>He could even be my uncle...LOL tenlights.com cousin Jeff, Hey Grandfather GZ.....you holding those long futures?

To: The IB Dude who wrote (39252)	4/24/2001 5:57:16 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

Internet riches are out, master grocers and real estate kings are in, the old economy rules the new world richest list!! Whay a difference a year can make! Pile-it-high strategy pushes discount king to top of heap and has Gates deposed from the top of the rich list. 'Old is gold' goes the adage old saying, Gates the most known rich man of the world has been replaced by Wal-Mart chains, Robson Walton, a master grocer. Not many have ever heard of him before; he is a man of old economy. He is a master grocer, sells milk, butter and consumer goods, last year it would be a biggest joke to consider 'old economy' believer to de-thrown Gates, the living icon of IT revolution from the top of the world richest man status. But this is the bitter fact. This reflects a changed environment for technology and dawn of new Internet stigma on Wall Street. Individuals and companies associated with Internet have lost their wealth heavily in the new list of global riches. This is going to come as a shock to children of the information age. Bill Gates is no longer the richest man in the world. The new riches of Internet have lost big, 63 dot com millionaires last year have dwindled to 26. Old money is looking good – in fact the older the better – with the Duke of Westminster named as the U K's richest man. Imagine boring real estate owners and grocers once again regaining their lost paradise as richest people of the world. Last year it was owners of software companies and Internet companies. What a fall from grace. It's that time of year again, when homage is paid to the world's wealthiest. This is time of the year when leading newspapers of the world take out their Rich List. The owner of the Asda and Walmart chains, Robson Walton, has taken Bill Gates three-year place at the top of the list. Supermarkets looked good in Europe, too, with the Albrecht brothers, founders of Aldi, reaching the world's top 10 with 21.3 billion euros.Self-made Formula One mogul Bernie Ecclestone has climbed to number three in the UK list. What the Guardian calls the "technology elite" take a predictable tumble with the huge sell off in technology this year. Media mogul and wannabe Prime Minister Silvio Berlusconi of Italy, with a fortune that has grown by 5.4 billion euros over the last year, hold Europe’s third place. But second place – beaten only by the aforementioned grocers Albrecht – goes to French cosmetic maker Liliane Bettencourt. In change of fortunes it's not until number 12 that we see the word "software". Globally, new industry – or at least older new industry is looking better. Bill Gates is still in the number two spot, with other Microsofters Paul Allen and Steve Ballmer at numbers six and 15. And Larry Ellison of Oracle, at number three, is a clear 14 billion euros ahead of King Fahd. This new war between 'old economy' and 'new economy' riches continues, the chances of old economy billionaires holding to their positions this time next year are very doubtful, the odds are that productivity gains and global technology revolution that has corrected a lot has not ended. It is just the beginning of next cycle. The low interest rate environment and low inflation is going to help the debt laden communication industry the most, that industry was behind the huge technology spending last year. IT spending and R&D spending are going to go higher with lower interest rates and increased global liquidity. Things don’t really look so bright presently for IT revolution believers, from 1999 when stocks spiked merely by calling themselves dot-coms. Today things have changed on Wall Street for. Coms. In a sea change of attitudes that explains the diminished wealth 63 dot com millionaires last year that have dwindled to 26 in this year world richest people. Today, no one wants to associate with the name .com or Internet. This can be highlighted by last Friday action by Internet.com said it will retire its instantly recognizable name in favor of INTMedia Group. Internet.com in good days could have had a hefty price of 100 m $’s for just the name. This is a poetic end to the Net-stocks. In a preliminary proxy statement filed with the Securities and Exchange Commission, the company says that the new name will "more accurately reflect" that the company "increasingly offers its services by means other than the Internet." Obviously, the corporate name change has more to do with dot-com stigma among investors. Two weeks ago, talking-head gurus on CNBC dismissed the stock by snickering about its name. After the name change was disclosed, Internet.com shares soared 17% on heavy volume, while the Dow Jones Internet Index tumbled 3.5%. Some observers guess that the landslide in. coms continue by mutual funds anxious to excise glaring dot-com lexicon from their quarterly shareholder reports. This blind selling in my opinion will certainly create new opportunities, what is out of fashion today will be in fashion tomorrow. Last year this time as Nasdaq hovered around 5000 mark, even to consider investing in Internet sector was professionally negligent and open indication of herd mentality that had governed a lot of ‘asset bubbles.’ Now to ignore this sector as prices have been cut to size, in all likelihood may be ignoring value. Speculative excesses of last year have burnt many a fingers. Investors are afraid to buy these highly speculative stocks however, only a levelheaded approach to investment and old philosophy of buy cheap and sell high will work. If this technology revolution continues than, don’t be to shocked to see a different list next year where Gates gets his place back at the top of the global list of richest. If that happens market would rally by at least 20-30% from here. MSFT recent earnings reveal that it has a lot of legs left to run on. Celebrations to count him out from the next year’s top of the world richest list may be little premature.