Ask Michael Burke Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Nadine Carroll who wrote (26719)	3/16/1998 12:00:00 PM
From: Mike M2	Read Replies (1) of 132070

Nadine, while your criticisms of the bears for being early may seem to be quite valid at the moment it is predicated on the assumption that the market will accommodate those who wish to leave the bubble with their profits intact. Markets are asymmetrical, this "liquidity driven" market is fueled by a decline in liquidity preference. Look back to Oct 97 any attempt to remove significant( I am unable to quantify) amounts of money out of the bubble will hammer valuations. I see this market as a confidence game, a ponzi scheme, musical chairs. Look at a chart of any previous boom and you will see the market takes no prisoners once the downside begins in earnest. I say sell now. I will say the same at Dow 10000 by mid year. As Joe Kennedy said " only a fool holds out for top dollar" J Paul Getty said "sell what others are buying and buy what others are selling- this is not some catching cliche it is the very essence of successful investing" his son Gordon learned that lesson well. In case you have any doubts I am a bear and quite happy about it. I don't need a crystal ball to predict the future I have history as my guide.Pete I hope you enjoy this note-g- Mike

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next