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Politics : Ask Michael Burke

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To: The Perfect Hedge who wrote (20694)	7/20/1997 9:19:00 AM
From: Edward F. Horst Jr.	of 132070

Are things really that gloomy or is that what we're being led to believe? Remember within the last 3-6 months all the predictions that the semi conductor and PC industries were all but dead? And then there are those who have been saying "the markets too high" for the last 5000 points! The world economy has developed a huge middle class with buying power, and with the awareness gained from the Internet, these folks want all the things enjoyed in the western world. Demand will remain historically strong well into the next century, I believe. Competition is the critical factor in selecting the quality companies who can sustain their technological advantages. I see a tremendous opportunity in owning small companies with cutting edge technology, as acquisition candidates. M&A will accellerate thru 2000. Fundamentally, things are strong; the market valuation is near high end; but it doesn't have to go down "because it's high". Liquidity is driving this surge and may become a permanent source of funds since savings for retirement is finally a priority.

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