Never in the history of U.S. capital markets have share prices been swept so far away from their mooring to real earnings. Despite the market's turning on tech stocks for a few days after the start of the new year, the richest investors by far are those who blindly poured money into the Nasdaq's elite technology stocks 12 months ago. In this game the coaches have been outsmarted by the guys with the blue-painted bellies cheering on their favorite tech stocks from the $8 seats.
Shawn Tully in Has the Market Gone Mad? from Fortune (1/24/00)Good journalism is bad business and bad journalism is, regrettably, at times good business.
Robert McChesney in "Media Megadeal" from the New York Times (1/11/00)
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