Now SOROS hold it right here. I too am 98% in cash but......
only till tomorrow, gg. So " this old brain " gets 9 hours of
rest tonight and does not have to worry about
valuations are absurd, PEs do matter,
sales closer than 10 years matter, internet is
addition to economy but not entire economy, market
severely punishes merely good earnings and
axes not met earnings, market has become a casino
where greed totally rules, etc.
However I am puzzled by
" With so many numbers coming out on Thursday and Friday....... I now sit on 98% cash".
So SOROS: are you out till Friday? gg
:-)
Also, you say
" didn't have dessert "
I can live with that: if your main meal is great sometimes
you can skip dessert.
What confuses me though is
whether the reason you are cashing out is because
you are pleasantly full as you so eloquently put it, or, because
his ( Joe "Baby Boomer" Investor ) total disregard for
table manners makes me stop after the main course.
Which one is it SOROS?
A full stomach or bad table manners?
<vbg>
More to follow depending on your answer,
:-)
TA
Message #61379 from SOROS at Jan 10 2000 10:15PM
My "new" brain says this is a new economy, baby boomers have so much money that automatically goes into 401K's each month no matter
what, internet changes all the rules, earnings will be blockbuster everywhere, etc. My "old" brain says valuations are absurd, PEs do matter,
sales closer than 10 years matter, internet is addition to economy but not entire economy, market severely punishes merely good earnings and
axes not met earnings, market has become a casino where greed totally rules, etc.
I guess this old duck can't take the heat. Old brain wins. With so many numbers coming out on Thursday and Friday, possible earnings of some
companies maybe not being outstanding, and the total fickle nature of this market, I now sit on 98% cash. I know pigs may get slaughtered, but
in recent years they have only gotten fatter and fatter. Last time I went to cash it only cost me a lot of money left on the table, but that picture of
the big, fat farmer's wife with knife in hand chasing that now so fat pig that she can actually catch him gives me nightmares.
May you all be pleasantly full and not have to lose 2/3 of your market lunch before the pain subsides. Had Joe "Baby Boomer" Investor eaten a
little more slowly, I'd stay and have dessert, but his total disregard for table manners makes me stop after the main course. Good luck to you all.
I remain,
SOROS |
