The Great Internet Stock Boom -
and Crash

Written when Internet stock hysteria was at its peak

December 12, 1999

      High tech stocks, then and now

      As you read this list, keep in mind that these are the "high tech" companies that survived. Many, including high flyers like Auburn Automobile which hit $514 per share, disappeared down the black hole of bankruptcy.

Company  1929 high   1932 low
General Electric  403   8 1/2
Otis Elevator  450   9
Warner Brothers  64 1/2   1/2
Wright Aeronautical  149 1/2   3 7/8
Int'l Combustion Eng.  103 1/2   1/2

      Source: "The Ups - Downs" by David Freeman. Burlington, Vt: Fraser, 1997.

     The 1920s marked the beginning in earnest of the electrical infrastructure, hign rise buildings, motion pictures, aeronautics,and ubiquitous engines - all cutting edge high tech with limitless market potential.

      Obviously, these industries and their leading companies prospered in the long run, but the people who bought their shares when the stock market was looney - and it did not appear it was to the most people then either - did not.

      If you really, really want to own Internet shares, hang on. You'll be able to get them for pennies on the dollar. In the meantime, use the Internet to advance your own business.

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©Ken McCarthy, 2000