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Politics : Ask Michael Burke

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To: Tommaso who wrote (48134)	2/21/1999 11:49:00 AM
From: Knighty Tin	Read Replies (2) of 132070

T, One of the reasons I hate bull market highs is that the people do not save money and start over. And they sure don't read "Silas Marner." <g> They sit around and write to their Congressmen to pass laws against the crooked bankers, brokers and money managers who allowed them to act like chumps. This happened to me earlier in this decade. I was writing notes on Pridigy about CEFs and Asia in particular during the peak of the mania for emerging market funds. I was saying get out, short them, buy America or Europe or somewhere established. I caught a lot of crap from the "all the growth is in Asia, you moron," folks. Then the area crapped out and I recommended buying some of the previously premium CEFs at deep discounts. I started getting letters hassling me for being so irresponsible as to have suckered folks into these scams. <g> Not only was I not guilty, I was on the side of the angels. But once a mania pops, the losers lose a ton and are totally irrational. When they asked, "why did I lose money?", they seem to be in Dracula's castle. No mirrors. <g> MB

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