Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 235.13

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To: Teri Skogerboe who wrote (22302)	7/30/1998 10:19:00 PM
From: Gottfried	Read Replies (2) of 70976

Teri, you said >>(5) I would say it's a very good bet there were people who felt positively there was nothing to worry about in 1929, the economy looked good, the outlook was bright and stocks were overpriced.<< Not that comparison to 1929 again, please. It is not relevant. There are things to worry about, of course. I don't think there ever was a time when there was no worry. >>(6) When the shoe-shine person is giving you his stock picks, it's a sign that darn near everybody's money is in this market already. So, after the foreigners get finished throwing their money into "safe havens", what will be the fuel for this market?<< I haven't seen a shoe-shine boy lately but can think of one source for new money: 401k plans. Let me invent some numbers. 50 million people have 401k plans. Their average salary is $40,000 per year. 8% of the salary goes into the plan. That comes to $160 billion a year. I have no idea whether that is enough. Often the employer kicks in $$$ also. Gottfried

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