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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Investor2 who wrote (9448)	10/24/1999 8:31:00 AM
From: John Carragher	Read Replies (1) of 15132

excerpt from article in today's Washington Post. It is about a guy selling his holdings vs buy and hold .esp. like comments.... chainsaw al.... Traders started selling like crazy. These are the same people who worry about the speeches of Greenspan, rapidly becoming known as Chainsaw Al. There's rarely actual news in the speeches, meaning he almost never tells us something we didn't already know. The news is that he's saying it, which I suspect even he would concede signals nothing about whether or not he favors or doesn't favor hiking interest rates. It's also news when he doesn't say it. Tuesday he gave a speech and didn't talk about the U.S. markets. It was a big story that he didn't. It's a pathetic commentary on the money managers of America that they buy or sell securities on the basis of Greenspan utterances. ("Further, we have unearthed evidence of a peculiar cult surrounding a folkloric figure, said to have possessed prophetic powers. . . .") Would you hire one of these managers to manage your future? Are you sure you haven't already done so?

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