From: Adam Rifkin -4K (adam@XeNT.ics.uci.edu)
Date: Wed Mar 22 2000 - 02:04:27 PST
Today the Fed raised rates again (how many times has it been? I've lost
track...) and the stock market rallied, and an interesting thing happened:
the "Magnificent Seven" bubblestocks collectively rallied past the $2
trillion mark today.
Company Market Cap
------- ----------
Microsoft $531 billion
Cisco $482 billion
Intel $462 billion
Lucent $210 billion
AOL $152 billion
Dell $149 billion
Yahoo! $101 billion
Total $2.1 trillion
Rimpinths' BubblePort, started less than 18 months ago, now stands at a
solid triple:
http://members.aol.com/Rimpinths/BubblePort.htm
100% of people who bought the basket of eight bubblestocks (the
Magnificent Seven plus Amazon) ANY time since July 1997 when Amazon
first started trading is now making money on that investment:
http://members.aol.com/Rimpinths/content/BH.htm
[Nice touch crossing out the "1999" and writing in "2000" in the phrase
"The Great Crash of 2000". :]
Meanwhile, a portfolio of nothing but CMGI's stock continues to be a
better investment than the paper its shares are written on:
http://members.aol.com/Rimpinths/content/PP.htm
I like Rimpinths' own description of how deep into The Bubble we are...
> BubblePort is less than 5% off its high at just a tad
> under $300K, the BubbleHead index is at 100%, and the
> RimpyPort is now down 90%. Unbelievable. Who would
> ever think that CSCO and INTC would be nearing the
> half-trillion mark?
>
> Total market cap of the BP has topped $2 trillion. It
> doesn't seem that long ago that it broke $1 trillion.
> When you talk percentages, nothing seems that absurd
> any more. But $1 *trillion* added to the BP in the
> past year?! That's absurd. It's not like MSFT, INTC,
> and CSCO were just discovered by most investors last year.
>
> Why do I even talk about this stuff anymore? It's the
> same thing over and over again. "Holy shit! Look at
> that! Isn't that the most ridiculous thing you've
> ever seen?!" "Unfuckingbelievable, can it get any
> more absurd this?!" "Well I'll be a greased Jesus,
> surely it must be getting close to the end."
On its one-year anniversary, the RimpyPort, which shorted Microsoft,
Intel, Cisco, and Dell, now stands at a 90% loss:
http://members.aol.com/Rimpinths/content/RP.htm
What's a bear to do in a market full of bull? Hey, if Microsoft, Intel,
and Cisco can be *half-trillion* dollar companies in 2000, there's
nothing that says they can't be *trillion* dollar companies by 2002,
right? [Geoffrey Moore teaches the faithful that gorillas just grow
and grow and grow, as long as they're fed a constant diet of bananas.]
Ugh, what a market... I wonder how it respects itself in the morning?
---- Adam@4K-Associates.comYou and me baby ain't nothing but mammals so let's do it like they do on The Discovery Channel. -- Bloodhound Gang, "The Bad Touch"
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