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To: Nazbuster who wrote (23031)	4/16/1998 7:30:00 PM
From: porcupine --''''>	Respond to of 36349

<< All the old rules are out the window! >> Daniel: Excellent documention of the fact all the common sense is out the window. However, none of the old rules are out the window. The political/economic/technological context in which the rules must be applied has changed, the difficulty of measuring fundamentals has increased, but the rules are the same: the economic value of an asset is the present value of the profit it will earn for its owners. There will always be a market for pipe dreams (e.g., the popularity of Lotto). But there is no reason to fault oneself for being an investor instead of a gambler.