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Politics : Ask Michael Burke

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To: Bill F. who wrote (51562)	3/12/1999 8:34:00 PM
From: Kailash	Read Replies (1) of 132070

Bill - nice writeup today - "Joe went on to make the point that anyone who talks about these things, and then the stocks go up, is just plain wrong. And anyone's who been negative is just plain wrong because the market's gone up." You bring up the personal argument - 'Wouldn't you rather know the bad news in advance?' There's also the economic argument - the stock market is supposed to function as an asset allocator, removing funds from companies that make inefficient use of it and funneling it to the most productive parts of the economy. If we don't get accurate information about poor performers, people will be investing in companies that don't deserve the funds - a sure way to run the whole economy and not just your personal finances into the ditch. People like Joe Kernan make it seem as if you're out of touch with the market and hurting the economy if you reveal negative information about a stock; nothing could be further from the truth. Kailash

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