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Politics : Ask Michael Burke

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To: Thomas M. who wrote (70080)11/5/1999 9:02:00 AM
From: Tommaso  Read Replies (1) of 132070
 
That Buffet piece is the most terrifyingly sensible thing I can ever remember reading about the stock market--buttressed with all sorts of solid information, experience, relevant and easily-understood statistics, and much else. Because he is an idol of any number of investors and brokers (fifteen years ago they were speaking of him in hushed tones at Merrill Lynch), you would think that some of the really big boys would start quietly moving into cash or onto the short side.

Most mutual fund managers, however, are still frightened by the example that has been made of anyone who has displayed caution over the past five years, in that way resembling the officer corps of the Wehrmacht during the German invasion of Russia. I wonder what those guys will be doing for a living in a few years.
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