Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tommaso who wrote (50251)	5/24/2004 5:08:46 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<Greenspan had the perfect tool and the correct assessment ("irrational exuberance"). His failure to act borders on the criminal> Tomato, you obviously didn't read our great and estimable idol's speech. He didn't assess "irrational exuberance", he said it was difficult to know when irrational exuberance is under way. You can check it for yourself [cyberspace is great]. His failure to act didn't cause me to lose my margined money on Globalstar. The cause of my loss was my failure to identify the metaphysical certitude that the Globalstar marketers would do bad marketing, even in the face of lack of demand which I was sure would cause them to do the only rational thing = slash minute prices so that demand matched supply. Give the billions of minutes away! Charge for the handsets. The minutes are like tomatoes - they can't be stored in a warehouse for a year or two and sold when market conditions are better. They rot on the vine - use them, or lose them. Bernie Schwartz tricked me by saying they were 'on plan', when they obviously weren't, but that wasn't the primary problem. The Biotelecosmictechdot.com boom was like a gold rush. People knew there was gold in them thar hills and poured in for a piece of the action. They didn't know which hill so most went home empty-handed. But the hills produced megatons of gold [not of the Aztec variety I hasten to add - I can imagine Jay drooling at the mention of mountains of gold]. Production is going well. All Uncle Al KBE could reasonably do was keep the system stable and wait to see just how much gold was there. He did beautifully, though I thought he should have cut the rates 6 months sooner than he did. Now I think he should have been raising rates a year ago [about March 2003]. But that's a small critique and maybe he was right and I was wrong. Q = 650, G = 385 so you can see that Q [QCOM cybercurrency as arbiter of the cyberspace revolution kitco.com ] and G [the price of Aztec 'wealth' kitco.com ] continue to part company. They were at parity a couple of years ago and G ahead of Q three years ago when I started the comparison [I forget the actual dates]. Jay thought I should stampede out of the cyberspace realm, into the atavistic world of the Aztecs, red in tooth and claw. I declined. Lucky! Maybe you should visit here: Subject 53236 Mqurice