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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Kid Rock who wrote (3381)5/2/2001 8:24:25 PM
From: jim black  Read Replies (1) of 74559
 
Kid , welcome to our little cyberhome. I have a suggestion for you, maybe a very valuable one. I have followed this thread for months and there is some very good information here. You pose a very astute question in
your post, a variation I might venture of "Is it different this time?" I have seen quoted short and long passages
of a classic work, i.e., "The Devil Take the Hindmost" and I am now finally reading it. As Jay said to me
after he read it in 1999 he began loosening up on his stocks. It is available in paperback from amazon.com
and I suggest you will never find a more valuable tome in your investment life. If you choose to run with the lemmings, good luck. But ask yourself why GE, a proxy for the US economy according to some views,
is selling at pe of 37, a PE/Growth ratio of 2.02, paying a dividend of 1.3%...and ask yourself if that is the picture
of a healthy market...and oh, BTW, answer that question of yourself AFTER you read that book.
jim black
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