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Quotes of the Week

May 17, 1999

The best way to predict the future is to invent it.
Jay Walker (Priceline) from The icon and his digital image /An Edison for a new age? in Forbes (5/17/99)

In the long run, the Internet stocks and the funds that buy them have no more chance of living up to their hype than Mike Tyson has of winning a Nobel Peace Prize. Many people investing in the Internet are basing their decision on a complete misunderstanding of how industries grow and investors prosper. The notion that a long-term investor can become rich simply by "buying early" into a revolutionary new industry--like the Internet--is flat-out wrong . . . While a handful of Internet stocks will go on to earn gigantic returns, I would not be at all surprised to see most of them lose at least 90% of their value.
Jason Zweig in Baloney.com from Money (May 1999)

The Information age has made it possible for investors to quickly and easily learn about their investments, follow the short term price movements of their investments, and research new investments. So much information is floating about in the air-waves that it seems to permeate one's dental fillings. In recent years, the press, radio, TV, the Internet, brokers, and mutual fund companies have simply flooded the public with information about business and investing. There are experts behind every tree today, pros lurking in doorways, wise men selling shares and annuities.
Lowell Miller in The Single Best Investment

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