Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (1413)	3/3/1999 6:17:00 PM
From: porcupine --''''>	Read Replies (2) of 1722

Greenspan Warns On Risks Of Internet Stocks WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan Wednesday warned older savers against keeping all their retirement money in stocks, especially highly valued Internet stocks. ''As you move closer and closer to retirement you move to less and less risky assets. If you have everything in equities, if you have everything in Internet stocks, you're in real trouble,'' Greenspan told lawmakers. ''It's a question how you manage the potential portfolio,'' Greenspan added, referring to the issue of how much risk was associated with individuals investing in stocks for their retirement. Greenspan was testifying to a House of Representatives subcommittee at a hearing on proposals to reform the Social Security retirement benefit system. Stocks associated with the Internet and technology are volatile and have reached high levels recently, in part because of interest in Internet shopping. The sector appeared largely to ignore Greenspan's comments. The technology-weighted Nasdaq market was off 0.89 percent Wednesday afternoon at 2,239. Greenspan issued a warning on broader stock levels when he testified to a Senate committee two weeks ago, saying he had concerns over market levels. In December 1996, he famously sent global markets tumbling when he brought up the possibility of ''irrational exuberance'' among investors. The Dow Jones industrial average, trading Wednesday afternoon at around 9,270, is currently about 2,800 points higher than when Greenspan made those remarks.

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