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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (87726)	12/30/2000 11:25:03 PM
From: Wildstar	Read Replies (1) of 132070

Michael, This is the first bear that I've been through. I know you have that saying, "All tech stocks eventually go to $4." It seems like most of them have. I just saw a list of ~400 dotbomb stocks that are off >90%. Worthless companies like etoys actually have worthless stocks now days. I always knew that someday it would happen, but it's another thing to actually see it happen. One of my friends had his "savings" go down below what they were 10 years ago. I have a couple of questions for you. 1)Most of the bigger cap companies with legitimate earnings are still selling are sky-high PE's. Do you think these will eventually correct before the bear ends? 2)Do you think that this will be a long bear market in the NASDAQ like 1929-1954, 1966-1982, and Nikkei over the last 10 years? Or do you think this will be like 1990-1991? I don't know what a bear in technology is really capable of. Those previous 20 year long bear markets were in the Dow and S&P. Is technology different? 3)I know that you've been buying calls on selected stocks recently. Do you see yourself (being a contrarian) being net long in the near future?

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