Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (11235)	11/23/2001 3:06:46 AM
From: Raymond Duray	Read Replies (2) of 74559

Hi maurice, Re: How about a bit of sympathy for we elite international capitalist classes. LOL! You're reminding me of that old Rolling Stone's album. You know the one...... Sympathy For The Devil. <g> I ought to be more inclined, I reckon, since I too advance on the wings of a market inflation. I'd simply prefer the cause to be underlying economic reality and not the seigniorage of a Wizard of Oz, or the unsustainable euphoria of a bubble. Just a steady percentage, that's all I'm askin'. But on a slightly more serious note, I'm inclined to see the willingness of Greenspan to use the full faith and credit of the American public to kite an overvalued stock market as a bit unseemly. I'm thinking from a strictly selfish point of view, I'm ready to load up as soon as I see some value in the equity market. With the cash injections we get to the banking system, my bargains never come around. You are right about there being a problem with P/Es, even at today's levels. The market is still not reflecting economic realities, IMVHO. Not that it hasn't been going on forever.... Cheerio, Ray

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