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出版時間:2002-12  出版社:HarperCollins Publishers  作者:John Cassidy  頁數:372  
Tag標簽:無  

內容概要

When Vannevar Bush, Franklin D. Roosevelt's chief scientific adviser, sat down in 1945 to write a magazine article about the future, he had no idea what he was beginning. Bush's vision of a desktop computer that would contain all of human knowledge inspired the scientists who built the Internet. In the early 1990s, when a British computer programmer devised the World Wide Web and an Illinois student invented an easy-to-use Web browser, the Internet was transformed from a scientific curiosity into the biggest gold rush since the Klondike.  In Dot.con, John Cassidy, one of the country's leading financial journalists and a staff writer at the New Yorker, relates the stories of Netscape, Yahoo!, America Online, Amazon.com, and other Internet companies, large and small. In a lively and entertaining narrative, Cassidy traces the rise of Internet stocks and the development of a populist stock market culture to the end of the Cold War. He shows how an unscrupulous alliance of entrepreneurs such as Jeff Bezos, venture capitalists such as John Doerr, stock analysts such as Mary Meeker, and investment bankers such as Frank Quattrone helped turn an exciting technological development into an unstable and dangerous speculative bubble.  Cassidy doesn't restrict his attention to Silicon Valley and Wall Street. He demonstrates how many prominent journalists and policy makers helped to expand and prolong the bubble, particularly Alan Greenspan, the chairman of the Federal Reserve.  But in the end, Cassidy concludes, responsibility for the Internet boom and bust cannot be placed on any one individual. It was a nationwide epizootic that involved tens of millions of Americans. And now that it is over, the country as a whole is paying a heavy price for succumbing to greed and wishful thinking. An artful blend of storytelling, history, and economics, Dot.con provides the first complete and authoritative account of the biggest financial story of the modern era.

書籍目錄

prologuechapter 1 From memex to world wide webchapter 2 popular capitalismchapter 3 information superhighwaychapter 4 netscapechapter 5 the stock marketchapter 6 ipochapter 7 yahoo!chapter 8 battle for the’netchapter 9 irrational exuberancechapter 10 amazon.cornchapter 11 the new economychapter 12 a media bubblechapter 13 greenspan’S green lightchapter 14 euphoriachapter 15 queen of the’netchapter 16 trading nationchapter 17 web dreamschapter 18 warning signschapter 19 the Fed stHkeschapter 20 crashchapter 21 dead dotcomsepiloguenotesappendixindex

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用戶評論 (總計1條)

 
 

  •     【非理性的繁榮】
      一般情況下,低市盈率年份之后的收益率要高,而高市盈率年份之后的收益率則低甚或是負數。 □在低市盈率的時候入市,高市盈率出市
      建議長期投資者在進行個人投資時應該“牛市出熊市進”,比如現在正值故事高漲,就不是投資的好時機。
      當股息偏低時,便不是投資的好時機,歷史事實證明了這種判斷是簡明而聰明的。 □股息水平
      反饋理論的一個最流行的說法是建立在適應性預期的基礎上的:
      發(fā)生反饋是由于過去的價格增長產生了對價格進一步增長的預期;
      反饋理論的另一種說法認為:
      發(fā)生反饋是由于過去的價格增長使投資者信心增加。
      通常認為這種反饋主要是對價格持續(xù)增長模式的反應,而不是對價格突然增長的反應。 □預期的增長也許會超過實際能實現的增長,所以,
      需要鑒別哪些增長是真實的,可以持續(xù)的;哪些是被哄抬的。
      投資者對股票的需求也不可能永遠擴大,當這種需求停止時,價格增長也會停止。
      根據預期反饋理論的流行說法,在需求停止時,我們就會看到股市的下降,即泡沫的破滅,因為投資者認為股市不會繼續(xù)上漲,因此沒有理由繼續(xù)持股。然而,反饋理論的其他說法并沒有提及泡沫的破滅,因為他們沒有對持續(xù)增長價格作出預測。 □需求決定論
      負泡沫 □對市場不看好的預期
      反饋環(huán)性質的變化才是崩盤的原因,而不是崩盤是公布的工作新聞報道。
      真正理性的話,需要對宏觀經濟增長的長期預期持續(xù)關注。 □關注市場長期基本面
      投資者總是努力去做正確的事情,但是無法把握自己行為的準確性時,有限的能力和特定的行為模式就會決定他們的行為。
      人們往往尋找一些簡單的原因來作為決策的理由,并因此導致了決策的偏向。 □人們總是因為一個簡單的理由就作出重大的決定。
      收益增長和價格增長的聯系一點也不緊密。 □
      
      
      
 

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