Charles Biderman Net Quotations

Historically, every year that companies were net buyers of shares, as far back as we have data, the market has gone up. This year the market has gone up much less than it should have.

My opinion is we're seeing market liquidations of many of the former high-flying Internet stocks, ... A lot of the stocks are down. Margin calls happen when stocks decline by more than 35 percent. And we're seeing more than 35-percent declines in many former high flyers.