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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Underwood who wrote (7781)	11/12/1997 4:22:00 PM
From: Skeptic	Respond to of 13949

Gerry, I don't have a problem with any of what you said. However, what kind of returns can we expect on the capital they invest? In a competitive world, returns in excess of the cost of capital are hard to come by. After Y2K, these companies will be competing with the Netscapes, Cambridge Technologies, and Sapients of the world that have a huge head start in internet and distributed technology and are widening the gap everyday that these other companies continue to work with legacy systems. If we're now handicapping these companies based on their competitive position post-Y2K, then there are many more attractive companies with much better valuations.