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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (27909)	3/25/1999 7:24:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 86076

fleck says "myth" again, and I totally agree... "Dot.com foolery... Finally, we can discuss the Internet stocks, which are in many ways the ultimate greater fool stocks. Nobody's making any money in these things and it's quite likely that no one will. There are very few barriers to entry. What it's all about is destroying profitability for businesses as middlemen are stripped out. It's a tremendous boon for the consumer, but it's not clear how anyone's going to make a whole hell of a lot of money, at least certainly not all these hundreds of companies with multi-billion-dollar valuations. What people want on the Internet is stuff for free and things that are easier and cheaper. So far I don't see anyone out there who's making a great deal of money, and anyone who's even close to making money has a valuation that is so absurd as to never make any sense. I'm sure I'll alienate some people with all this, but I thought it would be worthwhile to deconstruct some of the MYTHS as to why stocks are such a great investment these days."