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

To: David Harker who wrote (2733)	9/3/1998 2:00:00 PM
From: ahhaha	Read Replies (3) \| Respond to of 29970

These forums are flexible. You don't have to read anything. You can always hit "next". Sometimes you just want to express yourself and you are familiar with those that hang at a given thread. Besides, what can you do about it? ATHM is developing plenty of foreign exposure and I'm glad they are. If they had 40% of revenues coming from foreign countries, would that mean that they will lose 40% of revenues? Investors like to extrapolate to the absolute worst so that they can provide plenty of rationalization bullets for the latest foot shooting. Currency movements can effect nominal returns if the revenue is recognized in foreign currency, but that is reflected daily infinitesimally in the stock price. The action in ATHM or 99% of stocks recently had nothing to do with Asia, Russia, or any of the convenient a posteriori rationalizations trotted out to explain the action. It had to do with excess evaluation and fear of loss of paper gain. It's the psychology of "getting out". The most astute thinking goes like this: "I know x is going to sell because x is stupid and believes y which is false. x will cause z to sell since z is dumb also and prices will fall. I'll lose my job if I don't perform so I will sell before those dumbbells. The fact that that will look smart, makes me smart." That's the way most of the sellers think. It's "I gotta get out". And what everyone asks, "Did you get out?", is the favorite topic of discussion. When you hear that you know they didn't. Two months ago you couldn't get them to sell for a pile of good reasons. Now they can't wait to get out for no good reason. That's the stock market. It's job is to get you out and in and out and in... Wall Street hates uncertainty. This is such meaningless doubletalk it is still humorous to see it expressed. When are earnings certain? Never. There is no criteria for degree of uncertainty. Can you say that two months ago when the market was powering upward that earnings were perceived to be getting more certain? Or were they the same uncertainty but certainly expected to be higher? Well I guess they are now still equally uncertain and certainly expected to be lower. As for these wild times, what are you talking about? In this country if you go outside and cruise around you see that we have the most unwild times in 40 years exceeding the halcyon days of the '50s. In foreign countries you have to go to Indonesia or Africa to find wild times and they aren't very wild relative to business as usual. The wild times you are implying is a press created reaction to what could be. The world could be entering a recession. That would mean that the wild times would be calming down as everyone world wide seeks sidewalk space to sell apples.

To: David Harker who wrote (2733)	9/3/1998 6:50:00 PM
From: J. C. Dithers	Read Replies (2) \| Respond to of 29970

See what you started? Seems that not EVERYONE will feel safer and more comfortable with David Harker acting as arbiter as to which posts on this thread are appropriate, and which are not. Suggest you lighten up, respect the right of others to their comments or opinions, and remember that, for better or for worse, in sickness or in health ... this is an open forum for ALL those interested in ATHM. Eveyone should be welcome here. Including you.