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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (76570)10/17/2000 7:21:58 PM
From: Crimson Ghost   of 95453
 
When discussing the dangers of using borrowed money to play the market, perhaps the biggest offender of all is corporate America. These geniuses have borrowed I don't know how many hundreds of billions of dollars to repurchase stock. That is a key reason why "bond king" Bill Gross will not touch corporate bonds.

Now nothing wrong with stock repurchases, provided it is done when stocks are cheap. But much of repurchase wave has been done at absurdly high "bubble" valuations. There probably will be quite a few major corporate bankruptcies because of this new era idiocy sparked by the greed of top executives seeking to max out their stock options.
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