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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Venkie who wrote (44104)11/8/2001 10:47:25 PM
From: SOROS  Read Replies (1) of 65232
 
That's pretty much the only explanation I could come up with as well. So then, only rising interest rates have a chance to stop the bull. People must have some other alternative for that retirement money rather than leaving it to the discretion of the fund managers -- or, a disaster which panics people into keeping their money and not allowing the fund managers to buy anything. At this point, that is probably my biggest worry and what keeps me from buying anything -- even low PE stocks. Although the threat is low, who knows who the next enemy will be? My other weakness is not being able to buy in a market that is so overvalued by traditional standards. It reminds me of the baseball card market several years ago -- and we know what happened there. If we were to get a "panic" for whatever reason, how many would try and preserve their gains of the past 10 years by being the "first" one out? If the panic event were to happen on a weekend, I don't think anyone could get out because the markets would close indefinitely. The towers were tragic, but not a real panic situation. The debt issue could also implode and cause a panic situation. There have been other unsure times, but I can't remember when so much was built on sand should the worse case scenario actually happen.

newsmax.com

I remain,

SOROS
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