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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (47064)	2/14/1999 5:47:00 PM
From: accountclosed	Read Replies (3) of 132070

Another set of points that seems missed is 1. The Niles report wasn't that scathing. 2. People are attributing too much power to Niles statement. When Alan Greenspan comments that markets are marked by "irrational exuberance", the market yawns and skyrockets. The magnitude of the drop indicates that either Niles hit a chord with investors or that the stock was vulnerable, having run up so far so fast recently. But if he hit a chord, the fact is that the chord was there to hit. A typical analyst upgrade/downgrade is rarely worth 12 points, and Niles isn't exactly the highest powered analyst out there.

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