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To: MSI who wrote (54946)	5/4/1999 10:11:00 AM
From: Elmer	Read Replies (1) \| Respond to of 164684

Thanks for an excellent assessment of where we are probably heading. People are starting to understand that it is going to be very difficult to make serious money from internet businesses. John Bogle, head of Vanguard Funds, was asked about the Internet stocks as investments in a recent television interview. He said that the Internet companies do not represent good long-term investments. He argued that the Internet is a boon to the consumer because it will increase competition and that Internet companies are on the other side of that competition. So, normal or excess profitability will be difficult for them to obtain given their customers are shopping for the best price and will have the tools to find it. Regards, David