........I'm showing volume of 24,238 shares.......with an average trade of over $200,000!.......wonder if a little of that hot money is drifting over from the tech/net arena?.......the beat goes on......
perfessor siegel, I am not a learned perfessor, nor am I a college graduate. Fact is, I am still in high school, and I have never taken an economics or finance class. But I enjoyed your interviews on CNBC and CNN this monday when you pompously pronounced that Internet stocks are outrageously way overvalued and are doomed for a pop. I never read newspapers, so I don't know what exactly is in your WSJ article, but I enjoyed the way you played down the role of your WSJ article in "pricking" the Internet bubble.
I have never studied finance, but I have been investing long enough (ever since the 8th grade) to know that the most learned finance theories cannot predict stock prices. If they could, the powerful wall street firms with their PhDs and MBAs would be running incredibly profitable mutual funds, but even I know that 80% of mutual funds don't do as well as the s&p500 in the long haul.
So, what is my point? I am OUTRAGED that a man of your education and professional stature would go on the national media and act as though you KNEW Internet stocks are overvalue -- as though it were a SCIENTIFIC fact... as though valuation is a SCIENTIFIC discipline. In my mind, if your act on TV weren't stock price manipulation, plain and simple, I don't know what is. And doing it on a day when stock prices were oscillating wildly only makes it worst. Do you know better than the stock market the "true" value of internet stocks?! I think not, my friend. So please stop pretending you do with those enchanted pronouncements for your Ivory Tower. I only hope that one day you will be professionally held accountable for your "predictions" should they turn out to be wrong.
I think you need to keep quiet for a while until you have at least a hint of what markets and investing are about. Your posts only insult your superiors. Even for a high school student, your ideas of markets are very naive. Go to the library - you do know what a library is don't you - and read his article in Monday's WSJ. Maybe you will learn something. I know, thinking and learning about things that do not fit within your small range of prejudices hurts, but now is the time to do it. You need to read and listen more, and talk less.