VIAB (Viacom Class B shares) formerly CBS Message Board

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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS

VIA 29.69

-2.6%

11:56 AM EST

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To: ED_L who wrote (2458)	9/1/1998 8:44:00 AM
From: MGV	Read Replies (1) of 4613

A couple of points of divergence: Bear Markets like this last 18 to 24 months. There is no recipe for a "bear market." Even if there were, 18-24 months beginning when? yesterday? last week? 18 months ago? Many stocks are down 25% or more from 18-24 month highs. Where will CBS be after the market drops 2500 points more. My estimate is 18. The market will not drop 2500 points to 5000. The earnings capacity of CBS has not changed by what happened yesterday or what will happen today. It will grow cash flow in double digit rates. It will continue to buy back stock at these levels. In 12 months, a buyer here will feel fortunate to have picked up CBS at 25.

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