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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (6402)	7/29/2001 7:24:52 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 74559

<Investors' hard-earned money is not the only thing that has been lost since the technology stock bubble went pfft. Also gone is the credibility of a host of bull-market conceits. They include the hilarious notions that new-economy companies would be invulnerable to the traditional economic cycle, that valuations were not important when it came to buying stocks, that the invention of the Internet rivaled that of electricity.> Wrong. The invention of the internet [or, more accurately the telecosm and all that is linked to it and going to be linked to it] will make the invention of electricity trivial. Electricity is to cyberspace as haemoglobin is to the cerebral cortex. Cyberspace is more important than all of human history preceding it. Even more important than all of biological history. Except that, of course, nothing could have happened without the preceding steps so it's bit silly really to say which is more important. Without electricity there would be no cyberspace. Without stone tools, there would have been no electricity. Mqurice