Other humorous offerings include irreverent letters from iTulip's fictional president, Arnold Greenspatz (paying homage to Federal Reserve Chairman Alan Greenspan), and the lyrics to The Day the Nasdaq Died, a song parody that has become an online anthem of the new economy and is sung to the tune of American Pie.

Sales of the bogus certificates tapered off significantly the last time the stock market nose-dived, notes iTulip creator Eric Janszen. "You could buy real (stock) certificates for 10 bucks" then, he says in a "will they never learn" tone of voice.

Janszen, a managing director at Lexington, Mass., angel investment firm Osborn Capital, launched iTulip in November 1998 after reading about the history of financial manias such as the one that befell Holland.