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To: Sarmad Y. Hermiz who wrote (57391)	5/19/1999 8:24:00 AM
From: Glenn D. Rudolph	Respond to of 164684

Online Commerce is Real, America Online Executive Tells Retailers KNIGHT-RIDDER / TRIBUNE BUSINESS NEWS - May 19, 1999 03:44 May 19 (The Dallas Morning News/KRTBN)--A senior America Online Inc. executive warned retailers Tuesday that the Internet is not a fad and that they need to get more serious about their efforts at electronic commerce. Speaking at a conference in Dallas, Bob Pittman, president and chief operating officer of AOL, cited figures showing how consumers have integrated going online into their daily lives. The typical AOL user is signed on 55 minutes a day, Mr. Pittman said, compared with 14 minutes daily less than three years ago. And consumers are shopping online, he said. AOL customers bought $1.2 billion in merchandise during the holiday season and purchasing has gotten stronger. Sales in March were bigger than in December, Mr. Pittman said. Mr. Pittman joined Dulles, Va.-based AOL in 1996 after spending much of his career in the cable television industry. In his remarks, he drew parallels between TV networks in the early 1980s and retailers today. TV networks chose to wait on the sidelines and see what developed in the cable industry, Mr. Pittman said. By the time the networks realized how significant cable could be in distributing programming, new players such as CNN were entrenched as the leaders in their segments. The session on retailing and the Internet was sponsored by the Consumer Electronics Manufacturers Association. At the meeting, the trade group said sales of consumer technologies over the Internet could reach $25 billion by the end of 2001, representing 24 percent of overall industry sales volume. By Alan Goldstein -0- Visit The Dallas Morning News on the World Wide Web at dallasnews.com

To: Sarmad Y. Hermiz who wrote (57391)	5/19/1999 4:37:00 PM
From: Captain Leap	Respond to of 164684

Thanks for sharing your lessons learned. I have some very similar experiences. I am now vowing to maintain a 30% or more cash position through this period to catch the same wave that you are describing. I seem to be fully invested in stocks every time there is a "great buying opportunity"...in my case this has meant forced buy and hold (wait to get back the paper loss). Overall, buy and hold has worked for me...I am well up over the last 2 years. I do think though that to invest in tech means being a bit more agile than holding for 5 years. For example, Dell was a great stock...no longer. Thanks for the insight, Captain Leap