The Dotcom Bubble

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(I began publishing my monthly newsletter The Bob Livingston Letter™ in 1969. The following is an excerpt from the April 2000 issue in which I warned of the collapse of the dotcom bubble and advised my readers to get out of tech stocks before they lost everything.)

Growth Stock Outlooks writes, “If the Dow and the S&P 500 should really hit the skids, and the NASDAQ falls 60-80%, all sorts of financial hell will break loose, compounded by exploding derivatives. The NASDAQ sold at 208 times earnings in February 2000, dead ripe for a memorable decline.” The Net & Techs? Most will disappear. The rest will lose 95-98% of their today’s market value. You can tell your grandchildren that you saw it!

(Dotcom stocks peaked in early March 2000. Over the next year most dotcoms disappeared.)

Personal Liberty

Bob Livingston

founder of Personal Liberty Digest™, is an ultra-conservative American author and editor of The Bob Livingston Letter™, in circulation since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Hedgehog

    I have a question to ask, and this seems the place least likely to disturb the readership of PLD. Is it just me, or is everyone having trouble with this new format? I find I am spending more time trying to understand the comments and what buttons to push, bells to ring, horns to honk or whatever, in order to participate. The articles are fine, but I’m finding the comments virtually incomprehensible. If it’s just me, OK, I’ll just cancel my subscription and go elsewhere. If it’s not just me, then it would appear that there is a problem which should be addressed. Is there some sort of users manual for the new format, or is it another one of these intuitive, quasi-telepathic, non user friendly things?

    • http://personalliberty.com/ Bob Livingston

      Dear Hedgehog,

      What problems are you having, specifically?

      Best wishes,
      Bob

      • Hedgehog

        Hi Bob; Specifically, I’m having problems finding continuity in many of the threads. There seem to be a lot more disconnections and non seqiuturs. At the bottom of the post, Reply I get, Share, I have no idea what that does, ditto for 0 and the chevron and reverse chevron. I know I’m a techno dinosaur, I started out using mainframes and programming in the 1960’s. If that’s what the problem is, I’ll just quietly tiptoe away. Also I’m already registered with Disqus, I’ve just never used it.

        • http://personalliberty.com/ Bob Livingston

          Dear Hedgehog,

          Look for an explanatory article tomorrow.

          Best wishes,
          Bob

  • Watchman

    Hi Bob,

    It’s been a long time waiting to write this. Being a religious conservative, I think you understand the issue of accountability when it comes to putting oneself in the position of teaching, leading others and the ability to influence so many. You and a few others’ article content provide such relevant information, I’ve gotten to frequent you and about 2 other’s editorials above most other media as I’ve grown tired of the mainstream feeding me out-dated, flawed, and more and more twisted ‘coverage’. When it comes to financial advice however, sometimes you do tend to sorely miss the mark at times. Shoot, in ’99 I was telling everyone around me to get out of tech stocks and telling the same to those around me back in 2007 regarding the housing bubble to get out, so it wasn’t just you (or some of the self proclaimed ‘legendary’ advisors who also claim to be the only ones, (or the first one) to issue warnings about those collapses.

    A few years ago, more than a few times you were boasting / proclaiming some stocks as the cat’s meow,, or allowing what became apparent as being borderline shady marketers of ‘advice’ to market through your newsletter which was so off base, it did cause people to incur losses due to them having a tendency put trust in the advice you provide.. Fortunately it seems for the most part over the last couple years you have been prudent to keep such out of your publications for the most part which is good, Once in a great while, you still let in a marketing advertiser that are borderline corrupt. I can personally vouch for a couple who’s routines were borderline fraudulent and only because the amount lost wasn’t too great, didn’t say anything when the vendor ignored all communications and refused to refund when requested when their ‘product’ turned out to be seriously flawed.

    I think that you understand the depth of accountability before God and man regarding providing leadership to even one other person. You do an excellent job at it due to the huge challenge keeping on top of everything given how much hustle, hype and fraud there is out there. Just try to make sure vendors / advisors you allow to market in your publications have a clean record etc. If you can find complaints of fraud / ripoffs on the net regarding a potential advertiser, you may want to consider if the possible harm they could cause to your readers would not be worth what they pay you.

    Both your sister nutrients company and some of your compeditors marketing/customer service protocols (that I think you have allowed to advertise in your publications some times) are in my opinion well managed and more than equitable. I buy from both yours and some of your competitors, and some of the advisors that advertise in your publications, and they all have always been above board (howbeit sometimes engaging in too much hype at times). Just try to make sure advertisers you let into your publications aren’t going to rip off your readers, and maybe stick to ‘reporting the news’ vs. financial advice, as you and I think your son is also sharing the work in your publications has been stellar, but you have sorely missed the mark regarding financial advice at times in the past.

    Although only being able to enjoy your publications for the last decade or so, I’m sure your readers are glad you have stuck to it over the last 50 or so years.

    From one of your many readers,

    Thanks!

    • http://personalliberty.com/ Bob Livingston

      Dear Watchman,

      Thanks for your comments. We did have a couple of advertisers some time back that could be, in hindsight, considered “sketchy.” I could provide a long explanation of how it happened, but the short answer is “growing pains.” Whenever we learned of problems our customer service department went to whatever lengths necessary to correct them. I believe we’ve taken appropriate steps to ensure, as best we can, those problems don’t crop up again. However, if you are less than satisfied with the response by our advertisers regarding their products or customer service I would encourage you to contact our customer service department so we can help resolve any issues. As to my financial advice, I only promote to others what I myself am doing and I believe I have hit the mark far more than I’ve missed.

      Best wishes,
      Bob