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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: SOROS who wrote (45229)3/31/2002 10:16:21 PM
From: Zeev Hed  Read Replies (2) of 99280
 
Soros, all I can do is refer you back to an old post of mine from April 2000, yes the market is overvalued, but that does not means that it will become fairly valued over night, it will take years of trading in a broad range until the earning growth make the valuation more rational. If you are going to wait until valuations are rational, you'll miss important up moves, so far we had important moves from late May 2000, from Late December 2000, from early April 2001 and from late September 2001, four moves, all of which saw the Naz move more than 30% from it's then bottom, another one might be in process as I type.

Zeev
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