Intel Strategy for Achieving Wealth and Off Topic Message Board

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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic

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To: Frank Ellis Morris who wrote (24090)	7/22/1999 7:34:00 PM
From: Sonny McWilliams	of 27012

Frank. I guess you did not listen to Greenspeak. I mentioned my interpretation of his testimony in my post to musea and then in answer to your PM. Most of the time it is NOT the fault of Greenspan how the markets react. It is the fault of the investment community that puts words into Greenspan's mouth or keeps twisting it for their own agenda or takes his comments out of context. It's the bears and people who want to see the market go down that see something wrong in his speech everytime he is pressed to answer a question. Now what's wrong with acting "promptly and forcefully" if ugly inflation raises its head? Greenspan said today that he sees "NO INFLATION" at this time due to technology and therefore good productivity. He did acknowledge though that he took a rate cut back from last year because of the strong economy and the FED's worry that it may overheat. He even said this time around that he could not say if the stock market was too high or not with productivity and all. As far as our portfolio is concerned. Yes, it was a disaster for me this week. But, considering where it was before Greenspan came on, I don't want to complain. He and his colleagues and the Republican Congress with their spending restraints, have brought us to where we are today. A heck of a lot better off than when the other party was in charge in the House. Now, if you really want to see your portfolio drop, wait and see what happens if something goes wrong with Greenspan. For instance your scenario of firing him or he leaving on his own. I still think that Greenspan has been the best FED Chairman we ever had. And this with all his double talk at times. Frank. Relax. You are a longterm investor and long term you will make out unless we drop off the earth in 2000. Everybody is jittery with 2000 coming up and short term investors def. do not help either. And some of the big funds are now trading more than ever. Let me know what you think of this. I'll be off now but will check the thread when I get back in. Sonny

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