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Strategies & Market Trends : Galapagos Islands
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To: Jorj X Mckie who started this subject12/14/2002 4:35:33 PM
From: stomper  Read Replies (1) of 57110
 
If you're gonna stand on the shoulders of giants, it's best not to knock them down first...what an idiot:

Cramer; March 18, 2000 on TheStreet.com:

Wharton professor Jeremy Siegel, author of Stocks for the Long Run, had recently written an op-ed in the Wall Street Journal warning of dire valuation excesses.

“I really have no use for theoreticians of the market. They make you no money. We are in a casino-like market and I want to game the casino. The absurdity of a Jeremy Siegel from Wharton coming out with some statement about valuation and how he thinks it's wrong is just poppycock. Valuation is what it is. If you could sell only thousands of dollars worth of stock at these prices, then I would be wrong. But you can sell trillions of dollars worth. So what does it matter if an academic says the prices are wrong. They are the prices. That is the hand you are dealt, so figure it out or get lost.”

Cramer; November 18, 2002,

“Jeremy Siegel is one of the great ones. Anyone who has read Stocks for the Long Run knows that Siegel didn't succumb to the craziness of the late 1990s. From his desk at the Wharton School, this towering financial professor penned a piece that ran the week the Nasdaq hit its high in 2000.This memorable piece said that while Siegel remained a believer in the long-term value of stocks, the prices of the Ciscos and the Nortels had just gotten too nutty and he wanted everyone to sell tech. It was one of the most stark and prescient calls I have ever seen.

“That's why I paid extra close attention to Professor Siegel's words as I shared a panel with him Sunday at Philadelphia's Society Hill Towers as part of a fundraiser.”

<cribbed from prubear>
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