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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: J. C. Dithers who wrote (2278)	3/15/1999 12:52:00 PM
From: Kailash	Read Replies (2) \| Respond to of 7772

J.C. - you worry me with your faith in intuitive investing. Perhaps we'll look back on this conversation and say, "Gee, we were right on top of the bubble, talking about 1929. eBay was worth nearly as much as Boing. A lot of foolish investors sure lost their shirt on that speculative binge." The reason real bubbles happen so rarely is that people who experience them get so burnt that they and their kids never drive the market to the same insane heights. But after a while people who have never experienced a crash come to dominate the market. As long as it keeps going up it just seems foolish to look at fundamentals. To avoid getting slaughtered, we need to take the big picture of previous manias seriously. I am confident internet stocks such as Yhoo, Amzn, Cmgi, eBay, and Aol will be valued at a fraction of their current value a few years down the line. Short term - who knows? But you could get yourself in big trouble if you think you've figured out the easy way to make money on Wall Street, buying what everybody else is buying at insane valuations. IMHO. Kailash