Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (20)	3/8/1998 11:56:00 PM
From: porcupine --''''>	of 1722

Wayne to porc: "designer-jeans" analogy like "bigger fool" theory. << Likewise, now that mutual funds are more "trendy" than designer jeans, stocks sport prices higher than historical averages. When the boomers retire, this trend will moderate. But, premium stock prices won't necessarily disappear entirely -- just as pricey designer jeans haven't disappeared entirely. >> From: WCrimi To: gadr@nyct.net It is certainly possible. It just has nothing to do with value investing. It sounds more like the greater fool theory, i.e., "I am willing to own this overvalued security because another baby boomer will buy if from me at an even more absurd price." There are also economic implications to higher stock prices that will force the corrections of the market place eventually. Wayne

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