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Politics : Ask Michael Burke

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To: PaperChase who wrote (69917)	11/2/1999 1:03:00 PM
From: Freedom Fighter	Read Replies (3) of 132070

PC, I have a serious question about the attitude of some bulls. (not necessarily you) To be quite honest, I have a very difficult time finding "value" investors that think that this isn't a bubble. When you find one, they are usually from Wall St and have a vested interest in either believing the impossible or promoting it to the public. The typical range of views among non-vested interests are as follows: 1. Prices in aggregate are very high, but not quite as high as they look. The massive overvaluation is limited to some industries. 2. This is a dangerous financial bubble and is likely to end very badly. Given that these views have a reasonably high probability of being correct, it seems to me that it's in almost everyone's interest (except Wall St.'s) to prevent the excesses from getting larger. Partly because of the economic implications of a major bust if it should occur and partly because billions of dollars of middle class money is still heading into overvalued securities. What is it that I'm missing? Wayne

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