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: Lucretius who started this subject	9/12/2002 7:26:31 AM
From: j-at-home	Read Replies (2) of 436258

Too bear or not too bear The manager of the $61 billion Pimco Total Return Fund, the world's biggest bond fund, wrote in a monthly market commentary that stocks are too expensive and the Dow Jones Industrial Average needs to fall to 5000 before it's fairly valued. The gauge would have to drop 42 percent from yesterday's close of 8581 to reach that level. ``Stocks stink and will continue to do so until they're priced appropriately,'' he wrote. He said the chances are slim that stocks can repeat the returns of 6.7 percent a year of the past 100 years. Gross `Too Optimistic' David Tice, who profits by betting on declining stocks, said Gross' view of Dow 5000 is ``probably too optimistic.'' ``We were irrationally exuberant at Dow 6000 when Greenspan made his speech in 1996,'' said Tice, whose $194 million Prudent Bear Fund is up more than 60 percent this year. quote.bloomberg.com 09/12 00:07 Some Investors Tell Bill Gross to Stick to Bonds: Taking Stock By Danielle Sessa

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