Your fusion of postmodernist epistemology and Internet mania investing is brilliant.
So I'm curious: What do you think would happen if, for several years, Yahoo's earnings plateau at about $1 per share (it's at .25 per share now.)
Even after several years of that, do you think investors would bail? Or would they keep buying yahoo at higher and higher prices, since earnings don't matter.
Just a hypothetical, and I know there are no "musts"--because, we can't "KNOW" anything, can we?
But could you offer a guess, or a couple possible scenarios as to what would happen?
> -----Original Message-----
> From: owner-lbo-talk at lists.panix.com
> [mailto:owner-lbo-talk at lists.panix.com]On Behalf Of Jordan Hayes
> Sent: Thursday, January 06, 2000 10:46 AM
> To: lbo-talk at lists.panix.com
> Subject: RE: thegreatcrash.com press release
>
>
> > Don't investors expect that SOME DAY earnings will be returned ...
>
> Clearly not!
>
> > Even if you're buying stocks for pure speculation, there must
> > eventually be, at the end of the chain, someone who believes they
> > are going to actually get a pat back from the company.
>
> Just who are these benevolent investors?
>
> > But my question is, "Does anyone really think that Yahoo will
> > ever make enough return to investors their $400/per share investment
> > from way back in 2000?"
>
> I don't think so. I mean: you're not the first to notice this,
> even among long-term shareholders. So?
>
> > Even if everyone today if buying for pure speculation, and no
> > one cares about earnings, there still has to be a groups people
> > in the future who will by for earnings.
>
> I don't know where you got this "must" stuff from, like it's some
> physical law of the universe or something. Oops, those don't exist
> either!
>
> /jordan