WILL COCA-COLA ALWAYS GO UP? Message Board

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Strategies & Market Trends : WILL COCA-COLA ALWAYS GO UP?

KO 71.65

+1.6%

3:59 PM EST

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To: Sonny who wrote (1255)	9/24/1998 4:21:00 PM
From: john griffin	Read Replies (3) of 1462

Consider the following--according to the model that Greenspan uses the market is still 10% overvalued!! Greenspan is not going to lower rates now. He is going to wait until all the problems come home to roost, lower growth, foreign currencies, etc--all adding up to reduced earnings. Result market will drop approximately 20% when everyone finally wakes up to the true world situation. This means DOW 6500 and S&P 825 approx. Then with the market under Greenspan's fair value he will lower rates at a time when people are more sensible and will not over react. If he were to lower rates now Sept29, it would be a waste, because the market would go way up then suffer a big drop, requiring another rate cut, which probably would not get the proper effect. Short on KO---John-looking for $45

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