[Glenn]

and is a simple correction.

Tell me this. How many pure Internet plays are/were in the DOW, NASDAQ and S&P? How many Enrons, Xeroxi? I get a kick out of people who think they can boil it down to a sentence and get it to stick.

[Grut]

How many pure Internet plays are/were in the DOW, NASDAQ and S&P?

I think the idea is when investors see eBay with a PE of around 100, they're not so hesitant to bid up some other, unglamorous stock to a PE of 25 or so when normally they'd be cautious about a PE of much more than 15.

[anymouse]

Both Enron, Xerox and Worldcom morphed into dot.coms and suffered the consequences of overextending themselves into a speculative market (egged on by CITI Corp and other fast playing brokerages selling "Ponzi schemes" as legitimat business plans.)

Solid companies are suffering colateral damage from the loss of confidence of the average investor, who sees Wall Street infested by crooks in pinstripe suits and doesn't want to be burned worse, so they are staying out of the market.

The market will rebound - the day after Saddam Insane's body is paraded through the streets of Baghdad. I figure that will be sometime in November.

[A CA Guy]

Seeing the internet as the next great place to make money had the market go sky high, then when reality set in before it toppled, the Feds reduced interests rates making old retired folks desperate to turn a penny on their money.
Average and older folks went in the market as those who had been in already a year or more got out only having to pay a top rate of 20% on money made.
Feds further lowered the interest rates to a 30-40 year low.
Why? Because I think many of the banks are ready to call it quits and the Frds don't want to pay the $100,000 per person insurance on their money.

That's a little of my thoughts on the matter.

You are right about CEOs and accounting messes hurt as well. It was all going to the crapper anyway.