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Politics : Ask Michael Burke

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To: Giordano Bruno who wrote (57194)	4/23/1999 11:37:00 PM
From: Peter Goss	Read Replies (2) of 132070

" But for now, just realize that in the New Paradigm, earnings don't matter." Apparently he's right.>>>> This is bugging me to the point of total frustration. Internet companies report losses on top of losses but since they are slightly smaller than expected the stocks go up 20%. The blue chips report crappy earnings but because the bar has been set so low, Wall Street applauds and Etrade maniacs hit the buy button. The troubling part is that I don't see where or how it will end. The management of expectations has got to be Wall Street's biggest success story ever. The have the public so cowed and unthinking that as long as they have money to crank into the market they will because everything is meeting expectations. The private investors who see the real situation are totally crushed when they make decisions based on the usual laws of finance and investing. I know that in a world without reality that attempting to employ it is a futile exercise, but I don't see the mechanism that will stop it. Since the price is just a number on the screen why can't it be 15,000 instead of 10,000 or $800 on AMZN? The guerilla war you have to fight on the short side is exhausting. Sorry for the rant, Peter

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