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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (99256)6/19/2003 12:04:27 AM
From: Joan Osland Graffius  Read Replies (3) of 132070
 
I had an interesting evening. Went to an investment client relations dinner at one of the Country Clubs hosted by one of the financial planning organizations in town. The speaker was from Churchill advisors. This speaker was telling these folks the truth. It was like listening to Heinz, Mark Faber, Jimmy Rogers, etc. for an hour. This fellow thinks there is risk going forward, but was communicating Greenspan and Bush would pull out all stops to keep things from crumbling before November 2004. There was no doubt in his mind that the Iraq war was an attempt to try the world war II trick of getting the nation out of economic trouble. He felt Iraq was attractive because it could kill both the oil price problem and get the effect WWII gave the economy. He told these folks the market has 80 to 90 percent down side before the bear is done with his work - he is looking for a PE of 5 on the S&P. gg

There were at least 400 people attending and I did not talk to one client that was unhappy with the advise from this group. They got their clients out of the market in 1999. They could use someone who could help them with global investing and seemed to not have a great handle on how to deal with currencies, etc. This is the first group I have ran into that seems to have their sugar together and have been keeping their clients from losing their butt. They did get their clients back in the market after October, but are selling into this rally.
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