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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (50161)	6/30/1999 9:31:00 AM
From: IceShark	Respond to of 86076

S&P could do it pretty easy, too. INDU would be tough. Catch the wave. -s-

To: MythMan who wrote (50161)	6/30/1999 10:21:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 86076

nice interview w/ one of Soros's old henchmen: pbs.org nice excerpt: The market is a tool. We should have a political and social consensus on what our objectives are as a society and use markets to facilitate that. But now the servant's the master. It's almost as if the market is a religious icon. I see that mirrored in the very, very high valuation of the United States stock market and the tremendous conviction that citizens have throughout the country that the United States is good, is right. The free market is great, and the stock market is where you put your money.People used to put their bank balances into gold or bank accounts or CDs, so-called safe things. The stock market was considered risky. Now the stock market is where everybody puts their money 'cause that's considered safe and lucrative. That's a bothersome notion to me. As I mentioned earlier, making money is about changes in perception. Our society has such conviction now that the stock market is a good place. That perception is reflected in prices. The change in perception that's going to make stocks go up further is becoming even more optimistic. ... The ability for perception to change and change valuation in the stock market seems to me approaching the time when the only news that will be meaningful is bad news. That will change your perception. That will make my dentist stop lecturing me about how I have to be in the stock market with all of my wealth because, four out of five years, it's better than bonds. We're at a dangerous point with regard to equities in the United States, and I mentioned it's a little bit like fiddling while Rome burns 'cause the world is struggling all around us right now. And if the United States runs into a downward spiral, declining stock prices ...