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Technology Stocks : BAMM - BOOKs A Million (BAMM) .. the next Amazon.com ???? -- Ignore unavailable to you. Want to Upgrade?

To: Killian who wrote (147)	11/29/1998 3:57:00 PM
From: Brett Trueman	Read Replies (2) \| Respond to of 1196

Kevin, I believe that those who think that BAMM is overvalued have a point (ThinkWithYourHead among them), as do those who think it is undervalued. It's hard to come up with a scenario in which BAMM is really worth $40+. But, we're not dealing with rationality here. This internet frenzy seems to be taking on a life of its own, with prices being set without regard to fundamental values. So, from this irrational point of view, BAMM may be undervalued; that is, there may be people willing to pay more, in the short-term, to buy this stock. My fear is that this craze will end the same way the casino stock craze did a few years ago (and the way the biotech craze ended a few years before that). Investors bid prices way up, in the hopes that legalized gambling would spread through the U.S. When this didn't materialize, the stocks crashed, and small investors lost a lot of money. Once investors see that the potential of the internet is not unlimited, and the demand for internet-related stocks is also not unlimited, these stocks will crash, too, and many small investors will lose a lot. As is typically the case with smaller investors, they are likely to want to hold on until they at least recover their money. So, they may very well ride these stocks all of the way down. I just hope that investors realize how risky it is to invest in these stocks. Brett