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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (7769)	4/18/1999 12:41:00 PM
From: J.Y. Wang	Read Replies (2) \| Respond to of 18998

Greenberg @thestreet.com had an article about PCTY last August before it tanked and had another recently. Greenberg has been extremely accurate about shorts -- DLIA, SFSK, NETA, HS, IOM, etc. The internet ponzi schemes may be collapsing. I have thought a lot about this. What may slow the collapse or ensure the quick rebuilding of the ponzi schemes after the collapse is: 1) The number of people who, for example, bought AOL when it was 10 to 20 (only a year or so ago!) -- these large cap internet stocks might collapse, but they are not going to go from 150 back down to 10, so these people might hold no matter what. Fidelity has been an AOL holder since 1994 or so and probably won't be selling anytime soon; 2) The number of people who have made huge amounts of money from these stocks (the people who lost money are roadkill and don't matter) -- a huge number of people will buy these stocks on dips because they are absolutely confident that these internet companies will own the world, so the potential heavy selling pressure might be offset by heavy buying; What do you think, Mr.Pink?