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| <td width="400" height="1" valign="top"><b><font face="Arial" color="#000000" size="3"> The Stock Market </font></b> | |
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| <td width="509" bgcolor="#ECEBEA" height="41"><font face="Arial" size="2"><b>Vella </b></font></td> | |
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| <td width="509" bgcolor="#ECEBEA" height="76" valign="top"><font face="Arial" size="2">Well, I was talking this over with a friend and it was pointed out to me that a lot of the stock market is fueled by optimism. Eg. Tech stocks soaring because of this whole "new economy" stuff. Well, as could be seen by the downturn of the market sometime last week, is it true that the market is only doing so well because of people's optimism? Will it take a really bad fall during bad times? Or is this friend delusional? | |
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| </font><i><font face="Arial" size="1">posted: April 10 2000 | |
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| <td width="509" bgcolor="#ffffff" height="41"><font face="Arial" size="2"><b>jellybean </b></font></td> | |
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| <td width="509" bgcolor="#ffffff" height="76" valign="top"><font face="Arial" size="2">The stock rates = people's (client) perceptions. No other reason, no other answer. Your friend is right. I would know because my dad is a stock broker and he rattles about it all day everyday. <br> | |
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| </font><i><font face="Arial" size="1">posted: April 10 2000 | |
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| <td width="509" bgcolor="#ECEBEA" height="76" valign="top"><font face="Arial" size="2">I think your friend is right. It is more on our perception of what will happen next. It is our money that is at stake and when a bit of bad news come, we become nervous so we sell like crazy. By the way, Microsoft as of today (April 10) is down to $87 per share. What do you think? | |
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| </font><i><font face="Arial" size="1">posted: April 10 2000 | |
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| <td width="509" bgcolor="#ffffff" height="76" valign="top"><font face="Arial" size="2">Greed is a fuel on our stock market, and the greed is self-fulfilling. The more money that gets poured into the market by greedy investors, the more the price gets hiked up. So yes, I believe it is somewhat of a bubble of optimism. Also, the sky high price of stocks are not a reflection of its current assets or market power. Rather it's a reflection of a promise of making money. But it's a new economy with new rules, and it may last indefinitely, or burst eventually. Investors ARE getting impatient at looking at red ink forever, though. Investors want profits and products, so I expect that we may see a more traditional stock valuation schemes in the future. <br>Microsoft is an excellent company, despite its recently less-than-stellar performance. It has a proven "gold-mine" of products and talent, and I think that it deserves to be rewarded handsomely by Wall Street. | |
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| </font><i><font face="Arial" size="1">posted: April 10 2000 | |
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| <td width="509" bgcolor="#ECEBEA" height="76" valign="top"><font face="Arial" size="2">I think guru has a thing for Microsoft <img src="../../../images/h1.gif"> <br> <br>So what you're saying is that if people get extremely pessimistic, then the whole stock market will tumble down to practically nothing? | |
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| </font><i><font face="Arial" size="1">posted: April 11 2000 | |
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| <td width="509" bgcolor="#ffffff" height="76" valign="top"><font face="Arial" size="2">If the sentiment is so pessimistic, then the stock market will crash, just like the big crashes before. But it won't come down to practically nothing (as what we have experienced). Most of the time it will go down by half of whatever the highest is. <br>Microsoft is $85 per share as of April 11, is it time to jump in? | |
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| </font><i><font face="Arial" size="1">posted: April 11 2000 | |
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| <td width="509" bgcolor="#ECEBEA" height="76" valign="top"><font face="Arial" size="2">The value of a company nowadays is not based on intangible assets. Talent, branding, speed of innovation, and entrepreneurialism aren't measured on the balance sheets of most companies, giving these firms the appearance of having "nothing". But so as long as the markets continue to equate these intangible assets with money, we will be fine. And the boom is expected to last for two decades, after which this economic model may become the default. And afterall, our technology is just a new business model. Amazon.com is simply selling books, and AOL is giving us a service, and in 20 years, we'll still have booksellers and services. So my opinion is "no", there won't be "nothing" after the correction. There will be more! | |
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| </font><i><font face="Arial" size="1">posted: April 11 2000 | |
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| <td width="509" bgcolor="#ffffff" height="76" valign="top"><font face="Arial" size="2">I meant to say, that the value of a company IS based on intangible assets. As for guru's question: Is Microsoft a buy? I'm anxiously waiting for other opinions. I'm not selling the shares I have, though. For sure not. | |
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| </font><i><font face="Arial" size="1">posted: April 11 2000 | |
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