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To: Steve Robinett who wrote (3533)1/27/1999 2:49:00 PM
From: PatiBob  Respond to of 41369
 
The one thing conventional valuation does give you is an understanding that the mania will someday end, that the light at the end of the tunnel may turn out to be a train.

This is a dose of realism.

PB



To: Steve Robinett who wrote (3533)1/27/1999 3:38:00 PM
From: Daiju Kohno  Read Replies (2) | Respond to of 41369
 
Steve, you voice the fears and expectations of many investors and analysts, and you may be right.

However, I tend to see this "mania" as more than a bubble. A bubble is empty, has nothing to really sustain it. The internet, however, definitely has value. I think people who group internets in the computer industry are wrong. The internet is a whole new industry. When was the last time the markets welcomed a new industry? I don't know but its been awhile. This really is a revolution and 10 years from now, I think the current prices of these stocks will look cheap. (If they are still around, of course).

JMHO

DK