“…we are long overdue for disappointment. And when it comes, it will probably be a big disappointment. Stock valuations in general are at an all-time high, despite rising interest rates…The valuations of many of the technology and internet-related stocks…are so ridiculously extended that extreme price declines are inevitable and imminent.”

– David Ackerman, IdeaAdvisor.com, April, 10, 2000

“…the speculative bubble in technology stocks has reached its final stage…Investors are now focusing on only the highest risk situations. This is indicative of a peak in speculative enthusiasm and portends that the end of the technology and Internet bubble is near.”

– David Ackerman, ACM Quarterly Commentary, April 20, 2000

“We have now entered a period where ‘old-school’ notions of investing should be followed. One of those unfashionable concepts is that corporate profits matter, and that over time a company’s stock price should roughly track a company’s growth in profits. Therefore, the stocks of cash-burning ‘dot com’ and biotechnology stocks should be shunned to avoid further losses.”

– David Ackerman, ACM Quarterly Commentary, July 20, 2000

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TECHNOLOGY AND INTERNET STOCKS CRASHED IN THE FOLLOWING TWO YEARS.  THE NASDAQ COMPOSITE FELL 74.9% FROM THE MARCH 2000 HIGHS TO THE OCTOBER 2002 LOWS.  THE INTERACTIVE WEEK INTERNET INDEX FELL 90.2% DURING THIS PERIOD.  

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