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To: BGR who wrote (45409)	6/7/1999 3:22:00 PM
From: Stefan	Read Replies (1) \| Respond to of 86076

So then how did the economic outlook for the companies has changed to justify increase in share prices. All your arguments sound to me like gambling. What you are saying as long as you can predict what the Fed will do then you will get a winner. If there is true economical value behind the paper then run on the bank or stock prices should not cause any worry for you since the market is efficient. You did not reconcile your view that the bond market is wrong and that the market is efficient. Are you having problems with this?