Frank,
According to my records the DOW has gone from about 2000 to over 11,000 since Mr. Greenspan was appointed. Now I know that Clinton and Gore take credit for most of that (gag) but that's a pretty good track record. What I don't understand is the criticism of Mr. Greenspan by lacky Congressmen who are inexperienced except in spending the future generations money. Now, I know it's a little frustrating to see AG scare the markets just when Intel is starting to roll but it's hard to
fault AG for any on Intels stock movement for the last 13 years.
What you should be worrying about is what happens to the markets when Mr. Greenspan's term is up.
It's not Mr. Greenspan that created the environment for accelerated inflation...and believe me, it's coming if Y2K fears don't stop it first. Multiple hikes may be necessary. AG hiked a bunch of times in 1994, the DOW corrected about 10% and the NASDAQ about 20%. Nice buying opportunity. Intel on the other hand, likely won't correct that much, unless for some strange reason AMD has something to do with it.
Even with a Y2K disaster, Intel should remain strong, as a fix.
So, what the heck, kick back, compose a piano concerto...
I wish I was that talented.
Regards, Jim |
