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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (69755)	10/29/1999 4:21:00 PM
From: Freedom Fighter	Read Replies (7) of 132070

Mike, I am slowly coming to the conclusion that I want no part of this market except for the shares of BRK that I bought in the late 80s. (and the few babies shares I added recently) I simply do not understand what's going on (despite my enormous efforts). That's making me progressively uncomfortable holding things that I would otherwise feel very comfortable with. My attempts at hedging those positions are costing me money and taking an emotional toll. Either something is going on that I will never understand and agree with or we are heading towards a monumental disaster. If my understanding of the situation is correct, I just can't see how you can unwind this mess slowly or under control. In the mean time there seems to be no limit to the credit expansion, hype, leveraged share repurchases, and all the other things that are keeping the process alive. I'm not sure I can take another few years of this even if I'm eventually right and it blows! I want to stop thinking about it. I long for the days when stocks traded between 10-20 times earnings and prices moved in ways that corresponded to real economic and business developments. I need t-bills, a racing form, and a good imported brew! Wayne

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