Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: LLCF who wrote (145392)	1/22/2002 11:14:20 PM
From: KeepItSimple	Read Replies (1) of 436258

I fully expect the enron scandal to expand to the point where credibility of the entire financial system, including the fed and SEC, is destroyed. Once that happens, the risk premium on stocks will expand to levels never seen before, which means stock prices will fall to fractions of their current levels. Ever looked at the values of public companies based in other nations? Most of the companies on the FTSE are a few bucks or less. Same thing in german markets or japanese markets. Only when their equities have ties to US markets do their prices start to lift into fantasy land. If US markets were to fall to P/E ratios common to every other country on earth, the dow would be at 2000 and the nasdaq would be at 400. TL and economic violence right ahead. No turning back. The only worry I have is that homerun options successes may not pay out due to massive counterparty defaults above and beyond the ability of the exchanges to back up. ------------------- We're going into the abyss.> Hey, no fair out grimming me.... Heinz finally left, now you show up! :) DAK

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