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Politics : Ask Michael Burke
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To: Fred B. who wrote (57507)4/27/1999 11:08:00 AM
From: Freedom Fighter  Read Replies (1) of 132070
 
Fred,

<<You seem to believe that because prices are up, that the bear thesis have been
proven incorrect>>

>Well the bear thesis of october 1998 has been indeed proven incorrect(and my portfolio is quite thankful!!). We will see about the bear thesis of may 1999 in about 6 months.<

I can't speak for everyone, but value investors believe that the market does all sorts of nonsensical things in the short term. So the fact that it continues to rise is not a confirmation of the bullish case nor a refutation of the bear case. It is simply something to exploit. The same will be true at the depths of the next bear market. It is the long term values that should be debated. I am firmly in the bear camp on that issue (with some exceptions). Time will tell, not the next few months.

WC
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