To: Chuzzlewit who wrote (125481 ) 5/17/1999 1:27:00 PM From: DellFan Read Replies (1) | Respond to of 176387
I agree that we should get back to the real world-see attached- Why do we insist on feeding these people's hunger for unfounded rumors? (excerpted below) Wall Street Is Whispering on Gossip Street, USA By Eric Moskowitz Senior Writer Who would have expected Wall Streeters to stoop so low? Investment pros have always been gossip hounds. But lately they have been rummaging the online chat boards for corporate morsels -- and spreading them around. Essentially, some of the high-paid gurus who castigate individuals for lazily trafficking chat boards are doing no better. Last month, for example, as Network Solutions' (Nasdaq:NSOL - news) stock was going through the roof, one worried money manager says he called an analyst to discover what was happening. "I don't know what's going on," the analyst said. "I've read the chat boards and I didn't see anything." The response "sent me tumbling off my chair," the manager says. Or take Friday, May 7. Wall Street was buzzing with rumors about Compaq (NYSE:CPQ - news) , which traded heavily all day. "I'm hearing that the Dell (Nasdaq:DELL - news) CFO is going to Compaq," said one Wall Street money manager who requested anonymity. Strange. That same rumor appeared on the Silicon Investor chat boards a day earlier. Another Wall Street analyst, coy on naming names, said he had it on good authority that IBM (NYSE:IBM - news) was getting serious about buying Dell . But StockRumors.com, a pay-to-gossip chat site, had this nugget of information two days earlier: There is "a vague rumor out that IBM [will] acquire Dell very soon." StockRumors.com's claim to fame? "106 Rumors Reported in 1998 Became Reality." The theory, it seems, is to get so many rumors in print that a few are bound to become true. How did Dell feel about this rumor? "Again, we can't comment on rumors or speculation," said an exasperated spokesman . Too bad Streeters are spending more of their time fishing for rumors. Wall Street's squatting on this part of Main Street doesn't bode well for anyone.fnews.yahoo.com