Hi Bob; Well we know there is no such thing as real free lunch,
somebody pays for each transaction, if you just pass one share
back and forth enough it can eventually cost more then what the
share can grow in value , ( based on earnings ) so you got to
settle for a higher p/e. While the traders are paying it's still
related to the earnings, no matter how indirectly it's related,
that cost to the real intrinsic value is there.
But the heck with all that, Frances has my attention right now,
& I don't like the looks of what I'm seeing.
We already have a lot of water down here, and this thing hasn't got
started good.
I will add the cap gains cut, took a lot of potential money away
from muni bonds, and many funds set up in tax free accounts
such as what they call "widow and orphan funds" , well they paid
for that cap gain tax cut. Take a load off one sector , it goes
to another, they all talk to what they think will get them some
votes, and or campaign contributions & that's about it.
We pay so many hidden taxes right now, that for the average
American the old song, load 16tons..and deeper in debt is still
the name of the game, it just has a new twist.
Jim
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