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Politics : Formerly About Applied Materials

AMAT 224.06

+1.7%

11:39 AM EST

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To: Duker who wrote (30267)	5/18/1999 1:08:00 PM
From: Justa Werkenstiff	Read Replies (1) of 70976

Duker: "This FOMC stuff makes for nice press, but, unless you are a speculator or trader, who really cares if the Fed tightens or changes its bias two years from now?" I agree. Who cares about interest rates? I mean who cares if the market goes down 50% because of rising interest rates. Yeah, higher rates contract P/E multiples and can cause market corrections of huge dimensions if the fed. goes into a tightening mode because they perceive inflation. Just ask the survivors of the '73 - '74 bear market. But so what. What is the big deal. I don't care that P/E multiples are at historic highs and can collapse in the face of rising rates. And don't tell me it took years for those poor bear market souls to break even if they invested at the top. I don't want to hear it. Hey, I am a long term investor. I will live forever and can wait decades. Now, that is a long term investor. I won't sell out at the bottom when and if the market tanks due to rising rates. I had no impulse to push the sell button last fall. Come on, raise those rates. Jack them up. Bring it on. I can take it!!!! Re: "I hope that the Fed tightens rates by 50bpts and rips into public valuations in an unprecedented assault on the equity markets." I totally agree. Bring it on. I want to see Asia go in the crapper in the face of rising rates. Serves those folks right. It won't affect us any. Don't tell me that Rubin and Greenspan said the recoveries in Asia are "fragile." What do these guys know anyway? We are an island of prosperity here in the US. AMAT will prosper with Asia in the crapper and, if not, I can buy more in the low twenties. I love round trips.

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