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I2U - Views on News from Equitymaster
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  • Dec 3, 1999


    We have about 28 days left. Or about 2.4 million seconds. Give or take a few depending on when you read this, where you are, and how quickly you can read.

    Then this message which is sent from I2U will no longer exist. Who knows, we may no longer exist. But that does not matter because the money machine will live on. It was programmed to do so.

    You see, this whole 00-00-00 was one big experiment in nothingness. The rishis knew that material things did not matter. Everything came from sacrifice and everything went into sacrifice: that was the way of the yagna. Yagna, the big Y of the past.

    And the holy sages knew where the world was going. The seers of the ancient past knew of the coming of the age of Kalyug, the big K.

    And from the depths of that knowledge grew the great passage of time, the passage from Yagna to Kalyug. From Y to K. Referred to in hush tones as: Y2K.

    So this is where we stand now: on the threshold of truth, on the end of the journey from Y2K.

    But Man could never accept this as a holy journey and a test of the purity of time. So man invented the image of the computer programmer trying hard to save expensive memory space, bent over an aging machine and compressing mm-dd-yyyy into mm-dd-yy. And man invented the concept of 0 and 1 to try to replicate the brilliance of the sages in digital bits. But this will all be tested soon: within the next 2.5 million seconds. And the world as we know it, may no longer be around.

    Not that the world has been the way it was supposed to be for some time now. What with the NASDAQ up 55% for the year, the Dow in another 20% plus return mode, and the S&P being fired by the jets on the big caps. The followers of Graham or Dodd (GoD) are seen hanging from rooftops wondering who will fall first: them or the markets. The value God may be at risk here. But, as the journey from Y2K fades, here is a message from I2U.

    My view is that the dot coms will live on. They have already proved their everlasting superiority. ACC, Gujarat Ambuja, Hindalco - these are the kind of names that shoot up once in while and then, like the proverbial shooting star, they fade and die away waiting for the next cycle of rebirth. But the dot coms: they live forever. And they shoot forever. They are the liberated souls. Freed from any need to show profits, in some cases even revenues, they are the true atmas that have achieved market cap nirvana. Everytime a dot com runs out of money, all it needs to do is print some digital shares in some digital depository and it can raise more digital cash to pay digital salaries to their digithead employees so that they can digitally shop on the dot com digital store front. The world has been conditioned into digital thinking. Think about it, would you rather be a buyer of ACC or of acc.com?

    I used to buy ACC, Gujarat Ambuja, Hindalco and all those remnants of the great experiment from Y2K. But that was before I achieved investment nirvana. Now, the truth is known. To be passed on from I2U.



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