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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (112686)4/6/2008 11:46:18 AM
From: Tommaso  Read Replies (2) of 132070
 
You used to get a letter published in Barron's every so often, so I wonder if you still read it.

What percentage of the opinions (not the facts) published there do you think are of any value?

For example, I notice that this week, there's a story suggesting that because Dryships (DRYS) has dropped somewhat, it is a good investment. But a longer chart doesn't make it look like all that much of a drop:

finance.yahoo.com

My own temperament is similar to Alan Abelson's, but as we both (or all three) found out, there was a lot more money to be made in the markets from about 1997 to 2002 than we ever imagined was possible. But the Greenspanke Era has fed unlimited credit into various hot-air balloons and kept the lighter-than-air rallies recurring.

It does seem that we may have reached a point where the Mexican peso is a better store of value than the dollar (no kidding), so perhaps at long last the game is up. But maybe I feel that way because I just got Skybusted (the airline shut down in the middle of the night last Friday, leaving me with unused roundtrip tickets to California plus a couple of thousand dollars' worth of hotel reservations).
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