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RE: I've just tried new.net's plugin. Don't.
- From: Owen DeLong
- Date: Fri Mar 16 13:31:47 2001
> | Yup, it's all about capitalism, and nothing about technical correctness.*sigh*
> The long-term maximization of ROI requires technical correctness.
> Unfortunately there is often alot of arbitrage by people with
> very short-term goals. Sadly, some of the worst technologies are
> the ones that get lots of short-term interest.
In case you haven't noticed, today's capitalist is not interested in long
term ROI. It's all about put bucks in, churn fast, get bucks out before
anyone notices that it's not as good as the hype has everyone believing.
That scenario is playing out over and over all over the market and is the
source of many of the woes being blamed on day traders, etc. The reality
is that the true capitalists, the ones with control of the majority of the
capital love the day traders. They get to deliver an innuendo, then watch
the day traders create all kinds of momentum behind said innuendo, and
proffit from the market moving in the predictable direction as a result.
These are the people that put up a lot of the money that went into the
internet stocks before they got so high. They're also the ones that
sold out early and have been shorting them for the last 6 months.
Hopefully, someone will eventually find a way to force a long term ROI
to be an important factor to the market makers, but right now, the
quick buck reigns supreme, at least in the US markets. This has been
to the detriment of society in general, IMHO.