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Politics : Ask Michael Burke

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To: wlheatmoon who wrote (42502)	1/7/1999 12:54:00 PM
From: Mike M2	Read Replies (1) of 132070

Mike, not everyone DCA's into the stk mkt. Many are sucked in after a period of prolonged rising prices -they will be hurt. I can't cite specifics on your buy and hold but i would say that human nature does not change greed and fear control the masses. The Japanese are a very tough and disciplined people yet many cashed out of their mutual funds. I don't think Japan's bear mkt is over -they will be hurt by their banks and when the US economy goes into recession. I expect the next bear mkt in the US to bring us back to Dow 3xxx range and the bear to start in early 99.This is an attempt to quantify my feelings I don't necessarily expect to be right other than expecting the next bear to be long and painful. Very few investors will have the discipline to execute the "I'm in it for the long term" strategy when faced with massive losses. Mike

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