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Politics : Ask Michael Burke
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To: Mama Bear who wrote (84308)10/17/2000 9:31:06 AM
From: Tommaso  Read Replies (1) of 132070
 
I think what it amounts to is that if you agree with Tice (as I did and do) you just have to take the consequences--bad or good--of underestimating the degree and duration of market insanity.

The wisest investors have simply taken their money out and stood aside--or looked elsewhere, as Templeton did in making a large bet on the Korean market when it was at its bottom. The best thing I did was to maintain my energy positions. I should have doubled them when they went down.

I continue to believe that Tice will be vindicated, with average P/Es returning to 15 or below.
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