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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: puborectalis who wrote (54136)8/1/1999 7:47:00 AM
From: lee kramer  Read Replies (1) of 120523
 
Stephen Karasick: I know Jim Dines. He was the first to recommend gold in the early 60's (and he was Very early...it took quite a while for the markets to understand the inflation, especially after the huge build up (the cost) in Vietnam beginning in '65.) Year after year, the purchasing power of the dollar declined as additional slugs of printing-press money were thrown into the
economic stream.This was inflation; it was only later that prices began to rise (the CONSEQUENCE of prior inflation. Never forget;inflation is NOT rising prices...inflation is the introduction of paper-money into the economy. The final result? Interest rates at 15-18%, a prime rate of 15%, gold running from 100-875, silver from $1.75 to $50. So, when Jim is bullish on the internets I take him seriously. Sure, many have corrected by 40-60% and there'll be likely more on the downside for some. But the iternets (the better ones) and the internet peripherals and telecoms are still in the early innings. I prefer to trade 'em, long and short; others may want to take a different approach. Jim rarely gets excited about a concept. He's excited about this one, and I suspect he's gonna be right. (Lee)
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