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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: esecurities(tm) who wrote (898)	1/28/1999 5:40:00 PM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 3543

Most interesting, thank you, e.

To: esecurities(tm) who wrote (898)	1/28/1999 9:17:00 PM
From: Crueldog	Respond to of 3543

It's a mad, mad, mad, mad, mad world! biz.yahoo.com Alan misses Ayn. He is confused. Who can blame him? He's probably trying to get in on the internet too! People are really believing this will never end. The longer it lasts, the worse it will be. Still looking for first blood bath end of May. >>Crueldog:"Net stocks not just hype, there are just way the heck overvalued and getting more overvalued everyday."<< 'Greenspam' may be guilty of hype himself. He knows all too well how fragile all this is. Earnings are in the toilet but the spin is positive, "better than expected". Companies like AMZN increase revenues 300% and increase losses 275% and its better than expected. Give me a break better than what. EBAY makes a couple of pennies a share and its better than expected stock goes up 85 points <lol>. Yes these companies are for real. AMZN will be able to afford to lose a lot more money on a lot more revenue after floating these debentures which will pay investors an astounding 4.75%, providing that AMZN doesn't lose so much money that they can't afford to pay the interest. What do CD's pay anyway? Am I missing something?

To: esecurities(tm) who wrote (898)	1/31/1999 3:17:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 3543

Thursday January 28, 7:23 pm Eastern Time TEXT-Greenspan remarks on Internet stocks WASHINGTON, Jan 28 (Reuters) - Federal Reserve Chairman Alan Greenspan, in answer to a senator's question on Thursday about the rush to invest in Internet stocks, quipped, ''Is that called investment?'' Following is the full text of the rest of his comments to the Senate Budget Committee on the subject: SOMETHING FUNDAMENTAL ''First of all, you wouldn't get hype working if there weren't something fundamentally potentially sound under it. The issue really gets to the increasing evidence that a significant part of the distribution of goods and services in this country is going to move from conventional channels into some form of Internet system -- whether it's retail goods or services or a variety of other things.'' ''The size of that potential market is so huge that you have these pie-in-the-sky type of potentials for a lot of different vehicles. And, undoubtedly, some of these small companies which have stock prices going through the roof will succeed and they very well may justify even higher prices. The vast majority are almost sure to fail. That's the way the markets work in this regard.'' SOMETHING ELSE GOING ON ''But there is something else going on here, though, which is a fascinating thing to watch and it's -- for want of a better term -- a lottery principle. What lottery managers have known for centuries is that you could get somebody to pay for a one in a million shot more than you can value of that chance. In other words, people pay more for a claim on a very big payoff. And that's where the lotteries profits ... come from.'' ''And what that means is that when you are dealing with stocks -- the possibilities of which are, either it's going to be valued at zero or some huge number -- you get a premium in that stock price which is exactly the same sort of price evaluation process that goes on in the lottery.'' LOTTERY PREMIUM ''The more volatile the potential outlook -- and indeed in most of these types of issues that's precisely what's happening -- you will get a lottery premium in the stocks.'' ''But to answer that question, is there some hype in this? Of course, there's some hype. There is hype in lots of things. But there is at root here something far more fundamental and indeed, it does reflect something good about the way our securities markets work: mainly that they do endeavor to ferret out the better opportunities and put capital into various different types of endeavors prior to earnings actually materializing.'' ''That's good for our system. And that's in fact -- with all of this hype and craziness -- that is something that at the end of the day probably is more plus than minus.''