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Strategies & Market Trends : Sharck Soup

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To: Jim Spitz who wrote (36274)	10/2/2001 8:28:07 AM
From: puborectalis	of 37746

Morgan Stanley: equities becoming a buy By Julie Rannazzisi Strategists from Morgan Stanley voiced their opinions on the stock market and valuations. Global strategist Barton Biggs believes the current downturn is cyclical, which indicates that equities are becoming a buy now. Still, Biggs said last week's stock market rally is probably not sustainable and feels that the recent lows may be tested since initial rallies off of steep declines are typically followed by retests. On the strategy front, Byron Wien said stock market valuations appear very attractive, with risk measures at peaks, suggesting a "long-term buying opportunity." In the near-term, however, Wein said political and military events will generate uncertainty and limit the upside. Economist Richard Berner said that in the short term, shocks from the terrorist attacks will accentuate the slowdown in consumer and capital spending. He feels the Fed's expected 50-basis-point rate cut won't help in the near term but maintains that as the excesses of the late 1990s are worked off, it''ll "lay the foundation" for a sustained and "hearty" recovery.

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