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Pastimes : Home on the range where the buffalo roam

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To: bonnuss_in_austin who wrote (12048)	3/28/2001 10:21:50 PM
From: pbull	Read Replies (1) of 13572

What do others here think? We are in a recession, which means that earnings projections across nearly all industries are meaningless. Tech, which had valuations never before seen on the planet, is still the most vulnerable, IMO. Certain financials _ credit-card outfits, asset managers, companies dependant on commercial real estate _ appear vulnerable to me. Overcapacity exists in almost everything. How do I know overcapacity exists? A local grocery store is advertising chicken-leg quarters for 24 cents a pound. That's cheaper than bread. Cheaper than dog food. So, how can they sell it for that price and make a profit? They can't. And it's going to be worse than that in tech, IMO. Well, you asked for an opinion. Hope it helps. PB

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