To: Jock Hutchinson who wrote (25434 ) 11/18/2002 7:16:23 PM From: sea_biscuit Read Replies (2) | Respond to of 25814 Jock felt that Dipy was a bitter frustrated worker who was fired from his job in the tech industry... :-) IMO, there are four kinds of tech "investors": 1. The bigshot management-type insiders . These people talk a lot about how tech is going to be the future and how they are taking us to the moon blah blah blah. And all the time, they will be selling their stocks in the name of "diversification". 2. The technogeek type insiders . These people are usually in the engineering and R&D wings of the companies. For the most part, these people believe the hype expressed by the above category. Rarely you might come across people in this category that see the game for what it really is, but the vast majority of these have bought the "going to the moon" story hook, line and sinker. Some of these geeks behave like the group #3 mentioned below and are even willing to bet their farm on their company's stock and other tech stocks. The fact that these geeks are quite competent and capable in their work makes things worse, not better. It only serves to further cloud their sense of judgement and in an up-market, these people are the very embodiment of arrogance. 3. The wide-eyed outsiders . These people are the ones who hopped on to the bandwagon that tech is going to be the future. If anybody fell more for the story than those in the category #2 above, it is this group of people. It is this group that acts as bagholders when people from #1 dump their shares. 4. The skeptical insiders . This is a very small, almost tiny, group of people that belong to the tech industry. They are not big-shots and because they are also not geeks, they still have their heads on their shoulders. They could be as competent as the geeks, but unlike the geeks, they are aware that there are other things than mere technology -- like competition, business conditions, supply and demand, the economy, valuations, investment cycles that tends to repeat once in a generation or two and so on. These people are very wary of the folks from #1, and when these folks express their opinions, the folks from #2 and #3 don't like it, and even more so when the markets prove these folks right by heading down for years and years. And when the folks from #4 are proven right beyond all doubt, the folks from #2 and #3 label the former as "bitter frustrated folks who were fired from the tech industry". As for the folks from #1, they don't care about the rest. As far as they are concerned, the rest of the folks are all either foolish or insignificant or both.