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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.92+0.1%Nov 7 4:00 PM EST

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To: pater tenebrarum who wrote (41058)2/23/2000 1:36:00 PM
From: sandeep  Read Replies (2) of 99985
 
Heinz, "interestingly that led some WS analysts to conclude one should buy more high p/e stocks."

That makes perfect sense. Greenspan can raise rates all he wants. He CANNOT stop a biotech company from growing very rapidly through innovative drugs. He CANNOT stop an ecommerce company from selling stuff to business/consumers. In fact, by putting a chokehold on credit, he creates a level playing field for a startup company which can raise money from the market, the big companies can't do that because their shareholders wouldn't allow them. All Greenspan is doing is stopping the growth for good companies...
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