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Pastimes : Ask Mohan about the Market

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To: TREND1 who wrote (12644)1/1/1998 8:11:00 PM
From: Mike M2  Read Replies (1) of 18056
 
Larry, yes the market is usually a discounting mechanism but I view the current market as a speculative bubble which ignores all bad news. Prior to their peaks what were the U.S. mkt in 1929 and the Japanese mkt in late 1989 discounting? Loook at a more recent example the SE Asia stock mkts prior to their peaks what were they discounting. The experts who did not have the foresight to warn of the troubles in SE Asia now presume to be in a position to anticipate it's magnitude and impact. They continue to think the problem can be managed and that the IMF is all powerful. they will be very disappointed. Mike
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