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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (1480)1/25/1998 2:53:00 PM
From: Dale Baker  Read Replies (1) of 18691
 
Roger, I have to disagree about Clinton resigning regardless of the merits of the case against him. A saying which always holds true for me is, "America is a nation of laws, not just of men." That should read people to be politically correct, but you get the point. Wiping out leaders without due process defeats the basis of the system.

There are a lot of ironies here. Clinton has presided over an era of peace and prosperity. I have strong personal feelings about his lack of action in Bosnia for so long, but put that aside. Now Clinton may have undone himself, literally and figuratively. But losing an American president to scandal is much more traumatic than a parliamentary system losing a prime minister through a confidence vote. Losing a president over allegations instead of proven acts will open the door to roasting anyone ever elected to the office. I read a quote today suggesting that every president should have a special prosecutor appointed at the inauguration to check into every detail of what he has done, is doing or will do. That creates far more uncertainty in the markets than Clinton dragging this out for a few weeks or months.

If he does drag it out and he is guilty of some or all of the accusations, it won't be hard to find shares to short. I disagree with Mark in that respect. It's already hard to short AMZN but it won't be hard to short DELL with so many millions of shares out there.

As a civil servant I won't comment on the virtues and vices of a particular faction wielding more power in Washington. The past few years, we have had the sort of sloppy compromise which contains polticians' worst instincts and somehow produces a decent result for most people. I agree that any one group prevailing will be bad for everyone - except shorts.

Sorry to ramble off topic. I'd be interested in a more detailed take on LAMR and the other outdoor advertising companies.
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