----- Original Message -----
From: "Al Musella, DPM" <[EMAIL PROTECTED]>
Sent: Saturday, September 16, 2000 5:08 PM
> I think that stock prices are VERY much affected by the internet these
> days. Investors go to the website of the company , and check out newsgroups
> and mailing lists. (I am sure many investors are watching this
> list:)... to see what problems the company may be having. It is the only
> source of negative information on the company.
> A quick look here and on the website shows many unresolved problems that
> go back a long way.
I think you are crediting the majority of investors with more investing
sophistication than is reality.
You are right that the Internet has affected stock movements - but only to the
extent that it has allowed many more people to gamble on stocks at the click of
a mouse. To most it is an alternative to the lottery or a gamble on the horses,
the only speculation being - will the stock go up or will it go down - that is
why stocks get so overvalued so quickly due to the momentum of millions of
people all pushing prices higher and higher through Internet trading until
something gives. You ask the average investor about PE's, EPS, yields,
prospective earnings etc. - the traditional yardsticks for valueing stocks, and
you might as well be talking a foreign language :-)
Adrian Cooper.
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