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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: kvkkc1 who wrote (56852)	1/22/2002 3:03:12 PM
From: GVTucker	Read Replies (1) \| Respond to of 77400

Don't you think that a rational market would expect MSFT and IBM to make healthy profits? Don't you think a rational market would be genuinely surprised to see AMZN make any profit at all?

To: kvkkc1 who wrote (56852)	1/23/2002 9:16:23 AM
From: Stock Farmer	Read Replies (1) \| Respond to of 77400

The market is always irrational, to some extent. Just that over time the average irrationality sums to zero. The saying is that "the market can remain irrational for longer than you can remain solvent". Any modeller worth their salt will expect a certain volatility to grip the market. Explain the short term gyrations around prices that are different from their expected values? Does it really matter? To someone with a long-term bias? What matters to me is the movement of the midline relative to where I expect it to end up. Where it is at any moment appears to defy rhyme or reason. Particularly as the market still appears to be grasping at tulip-straws.