Iqbal bhai, how are you doing? Long time since we conversed. Just happened to see that note of yours and couldn't help but reply to it. I think Kurlak is an idiot. But, IMO Abby is the one who has no clue. Instead of her usual rantings like "super tanker" etc etc, if she said the market will go up becuse of the liquidity, I say she is right. Me thinks she is right on the market for the wrong reasons. her stock picks are absolutely terrible. (e.g. the day after she gave a super buy recco in late may last year, Intel gives the first earnings warning in a series. Needless to say the earnings were in the tank since then. Don't ask me where the stock is. -g- And, most recently, early in 1998, she was upbeat on Micron. What a great vision!)
For many people, paying more for less and less may be ok - but that is not how investment used to done. I know I know, we are in a "new era" yada yada. In the last 6 months alone Microsoft added a marketcap equivalent to about 80% of what the GDP will add for this year. if one were to buy the new era nonsense, soon the top 15 megacaps will equal the GDP itself.
-Mohan (as bearish as ever. Surprisingly, with still some money left for trading. -g-) |
