Cybercrash

Henry Blodget suggests the market may be overvalued.

He considers whether "it is different this time"

"So it could be different this time. Some of today's "new era" theories could prove right, and the stock market could just quietly resume its 10 percent-a-year average trend. The point, though, is that for today's market to be fairly valued, it has to be different this time. And, most likely, it isn't."

He mentions Jeremy Grantham as nbeingb "superbearish". Grantham has mentioned an "echo bubble" fairly recently as an aexplanation of what is going on.

Google shares dropped a bit on a statement that growth may not continue at the current rate. However they are trying a new approach such as charging for content such as Google Video. So far the content is not compelling but it has a lot of potential. I found several relevant videos on animation during AnimX last week. Google has a long way to go so it may be a useful thing that the cash reserves will allow something to continue even if the echo bubble is starting to leak.