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To: shane forbes who wrote (10378)	3/2/1998 8:41:00 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 25814

Shane : I was not talking about semis in particular, or even about tech stocks in particular. It was merely to make the point that if enough people think that industry "X" (be it the internet or semiconductors or networking or health-care) has a great future, chances are pretty high that anyone buying those stocks in those industries at that point will have anemic returns, even if the industry does manage to live up to the expectations of high levels of profitability in the future, i.e. even if the prediction turned out right. Dipy.