Houston, we have a problem! Michael Burke Lives there! -g- Too bad you quit MF management. See where you have to settle, just the mail bag? -g-
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Birth of a Guru
To the Editor:
Your December 25 and January 1 issues have been outstanding. But a couple of items missed the mark.
First, Alan Abelson's comment (Up & Down Wall Street, December 25) that many bears couldn't exploit a once-in-a-generation opportunity was silly. The good news about markets is that there is always another train barreling down a track somewhere headed for paradise or a cliff, and we just have to be flexible and bright enough to figure out where it is going. There are no once-in-a-lifetime opportunities, but, rather, a lifetime of opportunities.
Secondly, Arthur Cooper's letter (Mailbag, January 1) concluded that the turnaround, when it comes, won't be forecast by Barron'sor anyone else. Nonsense. There are tens of thousands of professional predictors out there and one or more of them will accidentally stumble on the correct prediction at the right time. That's how market gurus are born.
MICHAEL D. BURKE
Houston |
