"Joseph S. Barrera III" wrote:
> You're not the only one who's scared.
> _Net mania will burn down the Street_ (Christopher Byron)
> "...Examples abound. Every day I talk to market veterans who tell me stories
> of Wall Street figures who take secret positions in stocks via Canadian and
> European brokerage accounts, then tout the shares to their acolytes on the
> Web. Some foreign exchanges seem to have sprung up expressly to court this
> sort of activity. But no one in a position of authority is doing anything to
> stop any of it....
> "This is a disaster developing right before our eyes for the markets, for
> investors, for Wall Street as a whole... and unless it ends soon, it will
> prove a disaster for the nation..."
> Also check out the chart in http://www.msnbc.com/news/227614.asp
> -- eBay's market cap is bigger than RJR Nabisco???
> And from the same article:
> "These professionals arent skeptical so much about the value of the
> Internet or that some companies will make a fortune on it. Rather, they are
> skeptical that so many companies can hope to survive, let alone meet the
> expectations built into their stock prices.
> "'Survivability, not valuation, is the key issue,' Edward Kerschner,
> investment strategist at PaineWebber, wrote in a May report. He drew
> parallels between Internet stocks and personal-computer stocks, darlings of
> the 1982-83 bull market. At the end of 1982, the most-prominent PC makers
> were Apple, International Business Machines, Atari, Commodore, Tandy and
> Texas Instruments. Only Apple 'was a good long-term vehicle' for playing the
> PCs business, and most of todays leaders Compaq Computer, Dell Computer
> or Gateway 2000 werent even public at the time."
> - Joe