Re: [WSJ/MSNBC] There's no mania like Web mania.
Gregory Alan Bolcer (gbolcer@gambetta.ICS.uci.edu)
Mon, 04 Jan 1999 11:36:51 -0800
> For what it's worth, I think it's just as likely that there is no bubble
> at all, since the grand total of the Internet stock market caps is still
> less than just Walmart's market cap. Shows you how much I know. I have
> no formal economics training. If I walk down the street and see a $20
> bill on the ground, I'm likely to pick it up. And by posting this, I
> can go back someday and point to the precise moment in time where I went
> irrevocably wrong... if stocks are a fad -- and Internet stocks are a
> fad within a fad -- then I'm a fadchaser. Judging by my music tastes,
> we already knew this to be true.
They copied all they could follow,
but they couldn't copy my mind,
And I left 'em sweating and stealing
a year and a half behind.
-- The Mary Gloster by Rudyard Kipling 
Whatever your instincts are, the general masses will figure out 18 months
later. You can still fad away a lot of money in 18 months.