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Technology Stocks : Discuss Year 2000 Issues

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To: C.K. Houston who wrote (8147)	8/20/1999 3:17:00 PM
From: flatsville	of 9818

Cheryl-- Re: >>Even Ed Yardeni, whom I've known for years, has expressed far less concern than he did previously.<< >Guess you haven't talked to him lately.< Why should analysts bother to keep track of what each other are saying? Most (99%+) are too busy developing a cogent explanation as to why we should not worry about the fact that the market is 45% or so overvalued according to the Fed's fair value model...an issue Yardeni never tires of rubbing their collective noses in. Most are probably trying to convince themselves, their funds, their banks, their big clients, (what have you) but above all the bag holders, that there's nothing to worry about re: y2k and are all too happy to believe what public companies are telling them. After all their jobs largely depend on a rising market. (Recall the wholesale slaughter of Latin American analysts not that long ago when those economomies took a nose dive.) Fewer and fewer analysts are actually performing thier basic function. More and more are spending their time managing relationships. There was a great deal of whining about this in the business press earlier this year. Can't wait to hear the analyst spin this coming Sept/Oct. The whirling will put the Dervish to shame.

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