Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.620

+3.2%

Dec 5 9:30 AM EST

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To: Kevin Podsiadlik who wrote (6729)	2/15/2000 4:31:00 PM
From: J.Y. Wang	Read Replies (2) of 10293

Am I supposed to think it's likely that you emailed him to say "hey, great article"? Of course I wouldn't, because the article sucked the big one. He exposed his "fundamental analysis" for what it really is and he didn't give any insights into the market. Constantly saying, "Buy A because A went up last week; Sell B because B went down last week" gets inane after a while. Again, you can get that on Yahoo. Cramer's brand of "fundamental analysis" would be laughed at during any other period. Any monkey can figure out if Company A is "good" or "bad". It's usually determining whether the price is fair that requires more skill. But, again, I admire Cramer in that he recognized early on that this is a period in which to go on to the next logical step (determining if price is fair) will get you killed and just buying what ran up last week or yesterday will yield great returns. But to insist that this brand of "fundamental analysis" is the new paradigm and will be the rule of law from now on is stretching it. It's a group of bears for whom a great market crash (dubbed "The Big Kahuna") which will bankrupt half of America and especially Michael Dell, is never more than a week or two away. They're a little more fun than that, actually. That comment sounded like something I'd read there. Compared to most other large stock on the Nasdaq, Dell is a screaming bargain right now. I do think there will be a correction. Will it bankrupt half of America? Probably not. Will it force a lot of margin calls? Probably. Will it kill consumer spending? Yes. Will it bankrupt Michael Dell? Laughable. How about the simple common sense of always having a reserve to be able use to load up when the situation calls for it? The worst thing that can ever happen to a hedge fund manager like Cramer is to see a buying opportunity and have no cash available to take advantage. Implication being that market is nicely valued right now. If he thought market were low, would he have 35% cash?

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