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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Howard Hoffman who wrote (19879)	2/10/1999 12:02:00 AM
From: Dr. David Gleitman	Read Replies (2) \| Respond to of 27307

Howard: I don't think that it is a matter of fundamentals. As it was stated before, these are momentum issues. Perhaps I am being over simplistic, but what establishes the value of any given stock, is what people are willing to pay for it. That is determined by sentiment, which appears to be dictated by analysts, soothsayers and the like and momentum. It's like a game of musical chairs. The same analysts that claim that a stock is a "screaming buy" and turn around in an instant and say that the same security is overvalued. Several weeks ago when the Brazilian equivilant of AG resigned, the futures were down to the maximum of 27 points. In my years of investment, I have never seen the futures down 27 points, not with the Asian flu (you can fill/choose the country/flavor of the day that is in crisis for that moment). Doom anf gloom filled the screens (chicken little- the sky is falling). Several days later, this nightmare became nothing more then a distant memory. Everybody went about their business. Companies that were considered markedly overvalued, suddenly became screaming buys (at significantly higher levels, I might add). Fundamentals? There are no real fundamentals. It is colored by the tincture of the day. Best wishes, David