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Politics : Ask Michael Burke

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To: Mary Cluney who wrote (39579)	12/16/1998 6:02:00 PM
From: Knighty Tin	Read Replies (1) of 132070

Mary, Thank you for your kind words. The difference is, I see what I see. I have been long lots of tech stocks over the past 30 years. In fact, I was the only person I know long lots of tech stocks in 1991 and 1992. I agree about the future. What I do not agree about is that the stocks should be priced at a level that discounts that future completely and leaves a lot of price in the issues that cannot be explained by anyone's forecast. You may trust a hired gun more than you trust me. I trade for my own account, so my bias is toward making lots of money. Deloitte has a bias toward doing what the client wants. I do wnat to tell you one thing you can count on. If I thought that the earnings next year had any chance of making the current bloated stock prices reasonable, I wouldn't mind saying I was wrong. But, the sad thing is, the companies pulling a scam on greedy investors does nothing for the economy, other than transfer investor money to insiders. BTW, did you read the CPI news I quoted in a message to all above? That puts the big lie to most of the Xmas lies. Good Luck, MB

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