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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (63320)	6/27/1999 11:24:00 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

MB - newaus.com.au Weekly update from Monday down under. Regards, Don

To: Knighty Tin who wrote (63320)	6/28/1999 12:20:00 AM
From: James F. Hopkins	Read Replies (2) \| Respond to of 132070

Mike; The thing is; it is not as MUCH of a bull market as it's made out to be. Just because some select stocks go up and they are held to the light, as the S&P gets 48 replacements to keep people thinking it's a bull market. While the NAZ100 has 5 stocks that hold 40% of the market cap, & there was an internut mania that however did not make up in dollar terms for what wasn't going up What something wasn't going UP ? Well how could that be. I could only scan 5400 mutual funds , ( and all I found was 8,740 stocks ) guess we are lucky a lot of these funds don't buy stocks. But that aside 1,767 of the funds I scanned didn't keep up with the S&P, the NYSE, THE NAZ or even the common CD, in fact they LOST MONEY 55 of them LOST over 50% , and this my friend does not count the funds that really went to the dogs and were folded into something else. Well that's not too bad only 32.7% of the professional money advisers lost money in the last year. But how could that happen in a bull market ? I was puzzled and started scanning some more and using a longer time frame , it got so bad I just gave up when using a five year return I found 50% of the funds never even beat the CD or Money Market rate, that was to hard to believe, but there it was. Could this really be the BULL market that wasn't I know that's absurd with all the record highs, but then too where did that money go last July & August, ( out and back in ) ? No I don't think so, what came back in was credit, lots of credit. Huge debt offerings by cooperate American in order to buy back stock to make things look better. ---------- The only real Bull about this market is the Bull S*it. It ended last July but the news pundits and analcyst have not looked at the bottom line, or the balance sheets good enough to realize it. ------------ BTW some of the very worst of the FUNDS I found were in the HIGH YIELD junk bond market, what's going on there I remember TWA went belly up, and SME had to had trouble but something is telling me that a lot of interest is not being paid as many Bond funds are not showing up very good at all. ------------- I remember how long the S&Ls kept their dirty little secret before that fiasco came to the surface. I suspect that now there is another dirty little secret about some debt we are not being told about. This so called bull market is sort of like the Governments Budget slurpuss , ( and it seems them talking about the slurpuss have not checked the national debt. ) Maybe Years from now a book will come out about the Great Bull market taht wasn't. Jim