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Politics : Ask Michael Burke

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To: Dante Sinferno who wrote (38318)	12/6/1998 2:54:00 PM
From: Mike M2	Read Replies (2) of 132070

Rob, on the demand side the inflation in values comes from the public's shift in preferences of assets right now they love common stocks so they sell reluctantly and are eager to buy so higher prices are required to entice the public to sell. In addition we have companies that opt to repurchasing their shares rather than invest that money in expanding their business- a perverse consequence of the proliferation in esops.On the supply side prevents prices from going even more insane is esop participants and insiders who are pleased to sell into this mania and new stock offerings at absurd valuations. I always thought it sounded absurd when the Wall St touts talked of a shortage of stocks - is their a shortage of paper or lawyers or investment bankers ? -g- More later Have to go ho ho ho Mike

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