Be careful, fellows (OT, on a lighter side 8-)
I almost jumped on the Momentum bandwagon with LZRC, LCAV, LVCI of laser eye correction Centers . Had a 16 banger on VISX, since 1995. They make the machines, 75 % market share.
Here is what would happen (if we are not careful) , one for the smiles. My son, in silicon valley is a chartist and I am a Benjamin Graham pupil (but almost persuaded to jump on the Momentum wagon)
My late wife's father is a chartist, who bought stock before the '29 crash, would you believe. He got out of stocks last summer ! Bonds. He is 94 and thinks doomsday will come New Year's of 2000.
Anyway, when I consulted with my son, on this new Momentum venture, this is how he started his reply
>>Tongue in cheek:.....
Herey Herey --- now mark the end of the great bull market
of the last century.... Walter Linde has cast aside the motto of
'buy the house for the price of the furniture inside'
and is willing to jump in to Momentum Investing....
And so it was written that the Great Collapse began on
March 20 1999 8-)
Other telltale signs of the market coming unglued included Warren
Buffett dumping all of his Coca Cola, Gillette, and
Washington Post shares and trading them in to buy
shares in the Net's hotest 'virtual mutual fund' CMG Inc.
In a related story, William C Guest III decided that gold
will never resume a price curve with an upward tendency
and and decided to invest (in his retiring years) in
Pork Belly futures.
Yes --- the 8 year bull market came to a quick and ugly ending
when these three aligned in a curious shift in their general
belief about how the universe worked..... as I write this
the light bulbs in the house begin to flicker with an uneven
source of power as the world prepares to be plunged in to
total darkeness and the end of the world, as predicted by
William C Guest comes to an early ending.... (turns out that
new records showed that Jesus was actually born in
March - not in December as widely believed - and therefore
2000 actually begins right now)......
kidding aside.... 8-).... here's my read on the charts: <<
and he goes into his views of LVCI and all. I answered:
>Great Prose, Carl ! Enjoying the beginning of your answer because
>I just reflected on that phenomenon over Lunch:
>When I start, it must be the END.
Nice to have kids like that.
BTW did you see where two guys in the WStJ predicted 36 000 on the Dow ? Saying P/E of 100 is not entirely unreasonable.
I noticed the Dow didn't go up. Actually, their arguments are not bad. I think, the end of the Cold War is a factor. More money, more stability.
There is more money than talent to administer it, though. That's why I am here. |
