tech bubble (3)


A Tech Bubble, An 'Everything' Bubble Or None At All

nick-bilton-technology-bubble-new-establishment.jpg?width=300One Thursday morning in early June, the ballroom of the Rosewood Sand Hill hotel, in Menlo Park, was closed for a private presentation. The grand banquet hall appeared worthy of the sprawling resort’s five-star designation: ornate chandeliers hung from the ceiling; silk panels with a silver stenciled design covered the walls. Behind a stage in the 2,800-square-foot room, a large sign bore the name of Andreessen Horowitz, one of Silicon Valley’s most revered venture-capital firms.

As breakfast and coffee were offered, the company’s partners mingled with the men and women who endow their $1.5 billion fund. The investors were dressed invariably in business casual, with the top button of their dress shirts noticeably undone. (A mere handful of men stood out in a suit and tie.) Off in the distance, you could make out the faint purr of Bentleys and Teslas ferrying along Sand Hill Road, depositing the Valley’s other top V.C.’s at their respective offices—Greylock Partners, Draper Fisher Jurv

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This Day In 1999

1999:, ($PCLN) which had gone public at $16 a share exactly one month earlier, closes the day at $162.375 -- giving the tiny Internet images?q=tbn:ANd9GcSrYCyjGknSHKYE7WcTMxtO96ddK9OXWQdxonaCyea5d3pGQR3KAQcompany a one-month return of 914.8% and a total market value of $23 billion. It's probably the fastest and stupidest stock run-up yet recorded. But it's all downhill from here, as ends up losing 99% of its value by the end of 2000.

Fast forward 15 years and everyone books airfares and hotels online.  Everyone.  PCLN closing price yesterday was $1154.84 after reaching an all time high of $1378.96.  Oh to have bought that dip!

Was TWTR the tech top in the recent bull market?  Will we reach a new high and wait for Alibaba?  Are we in a Fed-induced bubble or as Einhorn states, only in select areas?  What are your thoughts?

Data courtesy of JasonZweig

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Hump Day Reads

  • New homes sales down -14.5% and if it were the weather, why were they up in the Northeast?  Looking at reality. Mish1290674?profile=original
  • Einhorn warns of a second tech bubble in 15 years.  It's all about overvaluation in certain names and momentum stocks folks.  Oh, for the days of fundamentals. 
  • Test your knowledge, take the quiz.  Who's the worst of developed countries?  The U.S.?
  • Slap in face to NFLX as AMZN signs a deal with HBO.  Amazon prime lovers, don't get too excited.  The deal does not include shows newer than three years old so you'll still have to tune into HBO to view Game of Thrones.  Still, this move has generated more talk about NFLX and how it's ability to offer new streaming is limited in contrast to what's available due to licensing agreements.
  • More talk today about "fringe" energy other than solar.  We've already witnessed Elon Musk (TSLA) transforming the electric car market.  What about the artificial leaf based on photosynthesis and others?  Check out this very interesti

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