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Politics : Ask Michael Burke
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To: Peter Singleton who wrote (46767)2/12/1999 3:55:00 PM
From: Bonnie Bear  Read Replies (2) of 132070
 
Peter: this market- the whole market- is not overvalued. There's whole sectors sitting at 1974 valuation levels. You can buy hundreds of perfectly profitable small companies under book value; you can buy natural gas utilities for around book value with 6% dividend, or REITs selling under mid-80's replacement cost of their buildings below book value with 8-10% dividend. My crystal ball tells me that someday the baby boomers will get tired of their growth stocks as they shrink, and will start looking for yield. And someday they will be thankful for their natural-gas-heated reit-owned rest homes. So I kinda think that the patient investor might do well to look at the dead stuff right now, and next year.
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