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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era
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To: Investor2 who wrote (131)4/2/1998 9:45:00 PM
From: Freedom Fighter  Read Replies (2) of 1722
 
Dear Investor 2. From Wayne

>Essentially, you said that we are currently in a rapidly expanding
>economic bubble, which may "pop" at any time. Although the current
>expansion in stock prises may continue for some time, when the bubble
>does pop, we could very well see disastrous economic turmoil for >years.

>Is that a correct read of your post?

That is 100% correct. Well said.

>Given your thoughts on the economy, how are you currently invested?

This is a torturous environment for me. I can't find anything that meets my qualifications for investment at the moment. As a result of that and the sales that I have made of stocks that had gotten far ahead of what I thought they were worth, I have a growing pile of cash.

I believe that the choices are low returns in cash or low long run returns in stocks. I don't market time so I have no idea where the market is headed. I still own a few things (Berkshire Hathaway, Applebees, Diagio, Tootsie Roll) but they are rapidly reaching my sell point too (except BRK). This will put me on the slow path until there is an opportunity somewhere. I am very restless but I am in very good company. Lawrence Tisch, Warren Buffett, Joe Steinberg etc...There's a very long list of great value guys that are accumulating cash and/or bonds.

If I am correct and the bubble bursts within a few years (maybe less)
I will be in a position to board the Concord!!!

Thanks for the compliment. Good luck. By the way, do you have any good ideas? Don't be shy!
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