Business media tycoon Michael Bloomberg blasted the Internet stocks during a speech in Singapore yesterday. I quote: “If you want to look at a regular stock you go to either a financial analyst or an economist. If you want to value Internet stock, you go to a psychologist or publicist.” I do think that some sanity needs to be injected into the market for Internet stocks, but I don’t think that his knocks on electronic commerce are completely valid. There are plenty of areas where an electronic commerce site can add value to allow them to compete on terms other than price.