Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Ploni who wrote (3038)	2/16/1998 10:09:00 AM
From: Roger A. Babb	Read Replies (1) of 18691

Charles, we are looking at more than just a correction upcoming on high flyers like ITWO, I expect a major drop that will stay down. As earnings and growth rates decline while the market makes new highs, stocks are becoming more overvalued at a double rate. Last year everyone said "earnings don't matter, only revenue growth". Now they are starting to say "current growth doesn't matter, only potential". The time is coming when fundamentals will matter again. Today's market is operating on the "greater fool" theory, but at some point the fools will run out of money.

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