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Technology Stocks : Applied Materials No-Politics Thread (AMAT)
AMAT 269.72+5.0%2:41 PM EST

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To: Fred Levine who wrote (11036)7/28/2004 6:10:21 PM
From: robert b furman  Read Replies (1) of 25522
 
Hi Fred,

Long time no speak.

I did not mean to use the blame game towards the market declining.

I take the arket action as the net result of the many influences that are at play and the power of the money behind them.

I do not say your son is crooked-I'm sure he has best of intent and integrity.

But look at the track record of the recent revelations and fines.Late trading, too frequent trading,letting a hedge fund see the collective holdings of a fund when the owners can't,members of a firm stepping in front of customers trades for their own interest,bond traders over charging.

You name - these guys figure the edge and do it toll there caught and too often the punishment doesn't do more than a slap.

It is in this environment we must not just expect rationality - but rather the excesses of selfinterest and an inherent amount of manipulation - in whatever form it occurs.

One needs to be braced for that mean spirited Mr Market.Now, I believe is such a time.

Good earnings and bad reactions - doesn't make sense and there are some big plays at work shewing the reactions.

JMHO

Bob
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