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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (1938)	11/2/1998 7:39:00 AM
From: tom pope	Respond to of 43080

>>So NewKit, it's my turn to ask you , or anyone that wants to share in this, a question: What makes the internet companies valuable? Or put another way, their Share Price models are based on what asset? << Tulip bulbs? (I don't really mean that, but it is conceivable for viable and strongly growing sectors to become overpriced and correct down before resuming their uptrend. Like Florida real estate in the 1920's, or the Manhattan co-ops which were abandoned in the thirties. Great return if you'd had the resources to buy then.)

To: LastShadow who wrote (1938)	11/2/1998 7:54:00 AM
From: Susan Saline	Read Replies (1) \| Respond to of 43080

>>>Or put another way, their Share Price models are based on what asset? subliminal clicks ... er ... their advertisers

To: LastShadow who wrote (1938)	11/2/1998 8:24:00 AM
From: DayTraderKidd	Respond to of 43080

The large internets are the future. That is what is making them so valuable to the street.

To: LastShadow who wrote (1938)	11/2/1998 8:44:00 AM
From: Andrew C.R. Biddle	Read Replies (1) \| Respond to of 43080

LastShadow- Maybe you need a patent for the net? An excerpt from today's WSJ: >> By PUI-WING TAM Staff Reporter of THE WALL STREET JOURNAL State Street Global Advisors -- and this could be a first in the mutual-fund industry -- says it has been granted a patent for a stock-selection technique. Is this really necessary? State Street's patent hasn't exactly lit a fire under other fund companies. Several competitors argue that a patent is redundant, since most processes are already well-protected by trade-secrets law and a veil of silence. These rivals say State Street's patent is simply a clever marketing gimmick. The big Boston asset-management firm, a unit of State Street Corp.'s State Street Bank & Trust Co., says it received a patent in June for a so-called quantitative investment process that helps select stocks and construct portfolios. Essentially a data-processing system, the investment method is based on a set of neural networks, or a complex series of mathematical equations and algorithms incorporated into a software program. First, information about a stock is fed into the data-processing system. A computer program, which uses the mathematics of neural networks, analyzes the data and spits out new information relating to the expected risk-adjusted return for the stock. An investment portfolio is constructed out of this new data. While patents related to financial services aren't new -- Merrill Lynch & Co. opened the floodgates for financial-services patents in the early 1980s when it was granted one for its cash-management-account product-patent experts say the State Street Global Advisors patent is probably the first that deals with an investment management process. The U.S. Patent and Trademark Office says it doesn't track which patents specifically relate to a fund management style or process. "I think this patent could be really significant because, historically, fund groups didn't think they could get patents on their investment processes," says Janet Olsen, a lawyer who specializes in mutual funds at Bell, Boyd & Lloyd in Chicago.<< Andrew