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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (3877)	4/19/1998 1:56:00 PM
From: Terry Maynard	Read Replies (1) of 78817

Another book with a different view is 'Market Magic' by Louise Yamada, a market analyst for Salomon Smith Barney. She likens the current market to the bull market of '42 to '66. This bull started in '82 according to her analysis and could keep going - even from where its at now. One reason with both positive and negative implications is the global scope of larger US corporations. She thinks we might have a two tier market one - the larger, international corporation - the other domestically oriented corporations and industries. Because the international corporations will benefit from the increasing markets in developing countries they are leading the drive to new highs on a regular basis. And she says past indicators of market valuation may be have to be rethought if in fact the international factors are prevailing. I find her arguments very clear and supported by many different facts - mostly time series such as DJIA behavior, S&P 500 behavior versus the dollar, inflation, interest rates, advance/decline ratios, etc. Haven't completed it yet; however, it offers a view that could be further discussed here. FYI Terry

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