Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (37907)	5/3/1999 9:43:00 PM
From: lee kramer	Read Replies (4) of 120523

Adelle, Jenna and Dave; you got me reminiscing. Back in '65, '66 (it's a bit hazy) I'm a broker at a major NYSE firm. Had to HIDE my charts in my desk. They were not allowed. Big day was 2-3 million shares. Five million was an event and the tape would run 30-40 minutes late. Margin was done in the back room by Tony with pencil, paper maybe a little calculator. Gerry Tsai left Fidelity to start his Manattan Fund. The demand was overwhelming; everyone wanted in. They closed it at $25 million, a monster deal. Earnings calculated yearly, not quarterly. No such things as "earnings plays", meeting/beating expectations, whisper numbers. Yeilds baby, then earnings, pull out of stocks and into bonds when the market tanked every few months, recessions, expansions, recessions. High-tech was IBM and computers whom damn few understood but commanded lofty multiples...like the 'nets now. Ah, the good old days.

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