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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Paul Weiss who wrote (1400)	2/20/1998 7:33:00 AM
From: Roger Bass	Read Replies (1) \| Respond to of 29970

Paul, I too basically agree, so we probably don't want to debate this one too much, but happen to think that euphoria is a bad basis for an investment strategy. I've seen people get really really excited about other companies that I thought were heading for a crash big time. There are plenty of examples of crashes happening after people got caught up in a general feeling that values could only go up. My feeling is that caution and scepticism are precious qualities in assessing a company where most of the people and one's own instincts are telling a very bullish story. With ATHM, it's certainly a long way up from here, that's why we're all invested, but in a company with $3bn market cap, and a few million dollars in sales, never mind earnings, it can pay us all to remember that it's a long way down as well if things don't work out. Best regards, Roger.