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October 18, 1999

There is little in our historical annals that suggests that human nature has changed much over the generations . . . history tells us that sharp reversals in confidence occur abruptly, most often with little advance notice. These reversals can be self-reinforcing processes that can compress sizable adjustments into a very short period. Panic reactions in the market are characterized by dramatic shifts in behavior that are intended to minimize short-term losses. Claims on far-distant future values are discounted to insignificance . . . Whether Dutch tulip bulbs or Russian equities, the market price patterns remain much the same.
Alan Greenspan in a speech titled Measuring Financial Risk in the Twenty-first Century (10/14/99)

Within five years, the term ‘Internet company' won't mean anything, because every company will be an Internet company. It's no longer your Internet business vs. the rest of your business. The Internet becomes a fundamental part of your business.
Kim Polese in So Long, Wild, Wild Web (RR) from Dow Jones Asset Management (September/October 1999)

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