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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Mike Buckley who wrote (46124)	9/3/2001 10:20:24 AM
From: Larry S.	Respond to of 54805

The book certainly did not cause the bubble. But it probably was the most learned of the material that fueled the excessive sentiment of newby investors, technophiles, etc. Greed, ignorance, and suspension of disbelief were far greater factors. We talk of Q, and CSCO, SEBL, INTC maybe, MSFT, etc. But the techno-internet bubble was fueled by the CMGIs, RMBS, Webvans, Dr Koops, The Globe, etc. Stocks with no earnings, no prospects for earnings, no monopolies, no barriers to entry, no bowling alleys, no tornados. just a name ending in dotcom, big losses and a dream. stocks that came public at 20, and soared to 50 or 60 in the first day, soon reaching 100. new metrics were conceived for valuing stocks: price to sales, since p/e meant nothing since there were no earnings, or prospects of earnings. how foolish we were! and what terrible damage was done to the investor psychology and wallet. but the gorillas and kings are gorillas and kings for the very reason that Moore described. They will do fine, they WILL produce the significantly above average returns over time. Its all the crap that gone thrown into the mix that a: took the gorillas to excessive levels, and b: fueled the bubble to the point of explosion, the end of which we hopefully are approaching. larry