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Politics : Ask Michael Burke

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To: pater tenebrarum who wrote (71714)12/14/1999 8:24:00 AM
From: Earlie  Read Replies (1) of 132070
 
Heinz/Alohal:

Tice is a personal friend of mine so I will own up right up front that my view may be biased.

I get a chance to read a great deal of research, most of which isn't worth the paper it is written on and much of which is outright baloney. I've also gone head to head with many N.Y. based analysts (on fundamentals) and had the delightful experience of seeing them fired when their nonsense was finally recognized by the markets and their GIGO prognostications turned to dirt.

David's research work has always been a cut above but his recent material has been exemplary. By way of example, his step-by-step gutting of IBM's accounting should turn out to be a text book classic.

David may be suffering at the hands of the "greater fools" out there, but not because of the quality of his research.

Another point: Few drive their cars on today's busy highways without insurance, nor own houses without same. Insurance is a form of risk management. Many astute (as opposed to crazed) investors acquire positions in short of bear funds to offset some of the obvious, massive risk associated with participation in this tulip. In the end, participation in David's funds will prove more prudent than "foolish".

Best, Earlie
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