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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: h.l. meeks who wrote (2702)11/12/1997 4:08:00 AM
From: Bill Harmond  Read Replies (1) of 27307
 
Thanks for your kind words, but if I knew what was going on I would be in some incredibly-leveraged derivative instead of cash.

Seems that at times like this the causes and effects are only known in hindsight. There's a saying that it's only when the tide goes out that you find who's swimming without a suit.

After bull runs like this one, there are bound to be all sorts of excesses...debt, leverage, issue-concentrations, all sorts of things that can unwind with terrible consequences.

I'm just hoping this decline ends without too much lasting damage.

An assistant in my broker's group at Montgomery just came back from a trek in Nepal, and he stopped overnight in Bangkok on his way home. He said it was a terrible sight. Failed banks, half-built skyscrapers, many cars for sale, and Rolex watches going for just about anything. Those indicate problems that won't end with the next market rally.

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