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Pastimes : Ask Mohan about the Market

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To: Zeev Hed who wrote (16909)	11/1/1998 10:22:00 AM
From: Enigma	Read Replies (1) of 18056

Zeev - you seem to be saying 'later rather than sooner' Dow 5000? So if Dow is 5000 bound - do you think it was good that Fed orchestrated a bailout of Wall Street, and international banking pals - rather than allowing an orderly bankruptcy proceeding, under which the fund's positions would have been unwound in the most advantageous way - and Buffet was standing in the wings. The message seems to be that risk will be rewarded by bailouts - just like the IMF coming to the rescue in recent history, eg - OK to lend to Mexico, Russia, Brazil because the risk is underwritten. IMO we have a new situation which is interrupting market forces - all in the name of maintaining a false sense of normality - but postponing the evil hour. E

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