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To: ecommerceman who wrote (4333)	1/18/1999 11:17:00 AM
From: Will Hou	Respond to of 13953

Interesting article. Thanks. Here are some random bits to share. About this so-called Internet bubble, I have mixed thoughts. Valuation-wise, it is outrageous and should and would drop soon, if not crash. However, there seems to be some sort of reverse psychological effects going on here. The more you talk about the bubble, the longer it seems to last. I don't claim to know the reasons behind, but I do think this is one of the reason of our current extended bull market. Everybody's cheering, and at the same time looking at the exit constantly. Somehow, it helps. On a even broader base, this bubble could also be seen as one reflection, or extreme case of current high evaluation among almost all stocks (S&P). Like there are reasons, or explanations to justify higher PE of today, we can always find good reasons, or excuses for this bubble. It's all about confidence or faith, some say. When that starts to fall, it's a good time to leave the party, either Internet party, or parties in general. If you happen to believe in balance, or yin-yang, you understand that extreme happiness always followed by deep sorrow. Sooner, or, later.