By 1999 I wasn't buying the stocks at all. Being a technology guy who cares about value, I couldn't buy at those levels. It was against everything I believe in. All the arguments that the bulls use to justify buying these stocks are valid. It's just that they didn't consider valuation.
Technology is the highest-growth area of our economy.
It is the place where stocks go up the most. It is the area in which the U.S. has the most expertise. There's always innovation, and that means there is always opportunity. Only in this period of insanity were my hands tied. With technology you have to factor in obsolescence.