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

To: Mike M2 who wrote (64303)	7/10/1999 12:37:00 PM
From: Freedom Fighter	Respond to of 132070

Mike, I agree with you. Value investing is not a timing tool. The valuations are just something that can be exploited by some investors with a long term horizon. (5 years or more) It seems to me that the monetary and credit aggregates (if you assume they are correct and complete) are not a good timing tool either. They may explain the boom and bust, but they don't give us much of a clue as to their limits or the decisions that will be made by the authorities to delay the bust or even cause the bust. What I'm saying is that the credit and monetary data might tell us why stocks are high or low and why earnings are booming above "normalized profit levels" etc... but I need not know why to be successful. I just need to know that they are. I'm growing progressively suspicious of all the macro numbers due to their quality and political manipulation. What I am partially rejecting is my own four years of hard work in trying to understand some of the "whys" of the lunacy. How can I understand something better when all the inputs are highly suspect? And is it worth it to try if I can be successful without it? Wayne