Here is what the memo says:
To All CNBC Guests:
Okay, guys, here's the ground rules:
1. When the market is down, especially the Naz,
our make-up artists will add a touch of black beneath
your eyes so that you look sufficiently haggard to
get out the message;
2. You'll repeatedly talk about high PE's, overvalued
bloated pigs like CSCO, and the validity of the
government's proposal to break-up MSFT;
3. You will keep saying that it's not over yet,
we haven't reached the bottom, or this is
really a crash by definition.....
4.You will talk about inflation repeatedly and encourage
the FED to keep raising those rates.
5. Once everyone is in a dark mood and the market has slid
too much, the makeup artists will freshen you up.
6. You'll begin to discuss the fact that the bottom
is in, or it's a buying opportunity now.
7.You'll say that there is a flight to quality, like CSCO,
and that it makes sense because CSCO is making money and should command a high PE.
8. You'll remind people that over the long term equities
have outperformed other investments, that though things may have slowed down or reached a bump in the road, over the long run things will be better.
9.If the Naz goes up too much, or if a rally lasts more than
a day, return to Rule #1 and start over....
Have a nice day.
(Oh and, buy GE!!!) |
