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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: John Pitera who wrote (34218)4/16/1999 4:33:00 PM
From: accountclosed  Read Replies (1) of 86076
 
I wouldn't mind seeing your recap...I had a phone call in the middle and ran in and out of the room twice...I saw almost none of what the other guy in the debate said.

Basically my review from what I saw would be this

1. It was a bull/bear debate
2. Sue started Bill off with a devil's advocate statement of like "Gee Bill, you've been bearish on this market for awhile and the Dow is making new highs...why are you still bearish?"
3. Bill said it was the quality of the market...the extreme valuations...volatility...the fact that stock splits got multi-digit increases in prices...the psychology of bullishness....momentum players
4. Later Bill Griffeth asked Bill what would be a catalyst to bring the market down
5. Bill said that a lot of what was creating the nirvana conditions was weakness around the world. That lack of demand around the world was keeping inflation at bay in this country and the perception around the world is that the overseas weakness was bottoming.
6. Griffeth pushed the point further, I think and
7. Meehan said the catalyst was likely to be rates...the same thing that led to the gains...that Greenspan had indicated or at least hinted that he might have to take away some of the three rate decreases from last fall.

Someone else will have to fill in the blanks if I missed some...because that's all I have.
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