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To: C.K. Houston who wrote (10334)2/4/1998 12:07:00 PM
From: Douglas Rushkoff  Read Replies (5) | Respond to of 31646
 
I received a bunch of mail after my terse withdrawal from the thread. Thanks all. Perhaps an explanation is in order.

1.) I've put my investments in blind trust so that I can write about hi-tech companies without worrying about conflicts of interest.

2.) The thread's value diminishes with the banter and emotionality from both sides. It's more than Mike Winn and the intervention/encounter group that's formed around him.

The apocalyptic nature of y2k evangelism worries me more than it fortifies my resolve as an investor. I have begun to see the pro-tpro enthusiasm as a mild form of cult fever. True, all stocks are pyramid schemes in one way or another, but this one has some of the characteristics of a quasi-spiritual multi-level marketing scheme. Belief in the coming disaster is supposed to fuel commitment to the stock. Pumping one another up, and converting more friends and relatives into believers insures the growth and maintenance of faith. This is a dangerous mix of emotional and social forces.

It is also why the thread is so particularly vulnerable to the emotional and unfounded attacks of detractors.

3.) As a journalist, I don't want my own enthusiasm for a stock or its story to be viewed as membership in the apocalypse bandwagon, or as a self-interested touting of an issue that I, myself, might happen to own. Further, the quality of the conversation had fallen to such a low level that I became, frankly, embarrassed to be a part.

4.) I believe my Merril Lynch broker sold my TPRO, along with most of my other low-cap hi-tech stocks. I guess I'll find out in a couple of years.

I hope this doesn't come across as an indictment of anyone on this thread, or the fine company to which it's dedicated. It's not. I simply believe the stakes, emotionality, and fervor have gotten out of everyone's control.

Good luck all, and go topro. I'll be lurking on occasion, and thinking about how to cover Y2k effectively with my pen rather than my wallet.



To: C.K. Houston who wrote (10334)2/4/1998 12:53:00 PM
From: wlheatmoon  Respond to of 31646
 
Cheryl,

I took the liberty of copying the info below from Y2K thread for us. Good luck.

mike

IMPORTANT NEWS! Fidelity is starting a new select fund called SELECT
BUSINESS SERVICES AND OUTSOURCING PORTFOLIO. The data
processing field and the Year 2000 Dilemma are two areas keynoted in the news
release. So which stocks are likely to benefit from Fidelity buying.
CHRZ is already going up. Let's talk!



To: C.K. Houston who wrote (10334)2/4/1998 1:08:00 PM
From: C.K. Houston  Read Replies (1) | Respond to of 31646
 
BREAKING NEWS: President Clinton to Sign Executive Order Appointing Y2K Czar and Creating President's Council on the Year 2000 Problem

"Our sources tell us that tomorrow President Clinton will announce the formation of a President's Council on Y2K headed by John Koskinen out of the Office of Management & Budget. Check back regularly at Westergaard Year 2000 for the latest developments."
y2ktimebomb.com

Back in November '97, Tony Keyes called for the appointment of a Y2K Czar in his House Testimony. Looks like they're FINALLY doing it!
y2kinvestor.com

Cheryl



To: C.K. Houston who wrote (10334)2/4/1998 1:15:00 PM
From: RWS  Respond to of 31646
 
IMHO this is going to ravage the resort business, eg. Las Vegas! Gaming and Leisure stocks will be good shorts. Guess I should use the proceeds to buy some kerosene heaters and a big electrical generator, probably throw in an AK47.

RWS