Zeev's Turnips Patch-No Politics (ZEEV)

[lee kramer]

Hi Babylon: "Excess liquidity is/was the cause of the bubble, not the solution..." You can make a case for that, but there are other factors too. Example: the technological revolution, the dot.coms and the feeling that swept the financial community and many investors that a "new era" was upon us, justifying outrageous p/e multiples: The belief that you better hop aboard before it was too late. I recall when the game was to find thew stock(s) late in the day that would gap open the next day 5, 10, 20, 30 points...and but 'em. Madness sure. But that was the game them.