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Steve,
I respect your opinion you have contributed alot over the years...
But only 300 to 400 points?? That's 8%.
I live in this SillyCon Valley I am not in the mania, but Here is a few
things I hear.
I am at the Arco station filling up. A guy behind me mutters.. $1.70 a
Gallon.
We start a conversation, blah blah blah. Oh, yeah I can remember the day
when it clicked over a dollar a gallon in the 70's.. He mutters.. yep
its about time to join a start up.
Another friend, was interested in hiring this woman within his company
to become his admin, She was his second choice, so she quit after
joining a start up.
She got options, about a month later, they liked her work so much, that
they gave her a raise and more options, The company goes public, she is
now worth 2 million dollars. She is a divorced mother of a 5 year old.
My neighbor talks about her friend's startup . She expected a stock
price of 40 dollars... never expecting the stock to run to 300.....
Another person, hears of the house being sold down the street for 460K,
The people who bot it did so with cash.
The neighbors across the street in a 2800 square footer. They put
$90,000 in high end flooring, marble tile, and granite counter tops.
This is in a house that's 20 years old and is in a tract. Guess what
they sell it for 710K and move on up the hill to a bigger house.
This is truely mania yet,I think that people in this valley are fairly
savy. They aren't panicing out of their 401k's. These are people on
average who are mostly in thier mid to late 30's to mid 40's they see no
REASON to bail when the money is long term investment.
I know another guy who invested 27K in PMCS. Guess what he's sitting on
500K in profits.
So Steve, most people here would look at your statement and go "duhhhh,
you have to be kidding". So what. Say the PMCS dives 50% he still has
250K.
Best regards and go figure a mania..
Don
swp wrote:
As luck would have it, the
> NASDAQ should fall 50% from about 300-400 points higher before the year
> is out (oh, and 50% takes us to about the October 1999 lows). Buy bonds
> from near 6.40% for a mega rally.
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