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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (4742)8/21/1998 3:02:00 PM
From: Wallace Rivers   of 78688
 
My point exactly...the avg. (not Dow) stock has not been faring well. My opinion is that we are near a downturn in the economy (the bond market is telegraphing this, even as there is a "flight to quality"), and the Fed will be forced to lower Fed Funds at a minimum 25 basis. The Fed has, to a large degree, been appeased by the bursting of the bubble of asset inflation (read no more "irrational exuberance"), thus easing by the Fed.
I personally do not see Dow 4500 with interest rates at historic lows...unless the Fed allows the economy to free fall.
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