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$ billion3 times what it was 5 years ago ? The percentage of investors investing online TRIPLED from 1998 to 1999 ? 48% of Americans own stock today ? Investors now hold an average Nasdaq stock for 5 months, vs. 2 years a decade ago ? Buy remendations outnumber sells by 72 to 1. The ratio 10 years ago was 10 to 1 ? CNBC is to investors what ESPN is to sports fans! NASDAQ NASDAQ has bee a global consumer marketing medium. “ Correction” Bull Vs. Bear “ Slump” “ Much Needed Correction” “ Crash” “ Temporary setback” “ Burst Bubble” My 15Year Old Brother Will only consume Pepsi products because he owns Pepsi stock My 78Year Old Grandmother Bought her first stock because she regularly buys the products and already has a deep brand relationship. Brand Loyalists = Shareholders Stock Losers = Unhappy Customers The Cost to Build a Brand Venture capitalist John Doerr has been quoted widely saying it takes $200 million to build a brand in the New Economy. $$ “ Left on the Table” $0$10$20$30$40$50$60$70$80$20 $80 Left Billions on the Table Source: The Red Herring Tab le Price OpenPALM $ $38 $145VA Linux $ $30 $299MP3. $780M $28 $92Akamai $750M $26 $110Sycam ore $ $38 $270UPS $ $50 $65The New Economy Brand “ Inter public offerings, it turns out, are only incidentally about raising money: They are mostly desperate pleas for consumer attention.”