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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: MrGreenJeans who wrote (7055)	7/22/1999 9:36:00 AM
From: Lars	Respond to of 15132

MrGreenJeans, Interesting article. I think it is a matter of time before we see a severe downturn (i.e. buying opportunity). Not today or tomorrow but the easy money will not stay here forever. I think it will be fascinating to see the scared money in total shock. I can't count how many people I have met who think they are market experts. I was at a party this weekend and I was criticized, basically laughed at, for owning Berkshire Hathaway. If this isn't a sign of a market top. Of course, this criticism was offered from an internut. What a joke! I told him to talk with me in five years and that until he really knew the company he might want to temper his comments. I suggested he watch Borsheim's and Geico. Those are my internet plays. Those businesses are phenomenal and will only get better with their presence on the web. I find it ABSOLUTELY amazing that people think Warren doesn't understand technology in terms of the internet. Yeah, he might not know how to value YHOO or AMZN but trust me he knows the power of the internet (read his comments from this year's annual meeting). The lemmings are slowly marching out to sea. Mr. Market shows no mercy. Period. It is going to be fun to watch this play out.

To: MrGreenJeans who wrote (7055)	7/22/1999 9:37:00 AM
From: Wally Mastroly	Read Replies (1) \| Respond to of 15132

Some views on the Greenspan perspective, plus old Humphrey-Hawkins report link: quote.bloomberg.com - Humphrey-Hawkins Reports: bog.frb.fed.us

To: MrGreenJeans who wrote (7055)	7/22/1999 9:37:00 AM
From: Lars	Read Replies (2) \| Respond to of 15132

* Market Summary * 7/16/99 7/09/99 %Change S&P 500 1,418.78 1,403.28 +1.11% Dow Jones 11,209.84 11,193.70 +.14% NASD Comp 2,864.48 2,793.06 +2.56% Russell 2000 465.26 457.98 +1.59% SOX Index 530.08 509.21 +4.10% Value Line 472.95 469.90 +.65% MS Growth 563.19 560.52 +.48% MS Cyclical 602.95 604.27 -.22% T - Bill 4.54% 4.56% -2 BP Long Bond 5.89% 6.00% -11 BP Gold - Oz-Near Month $254.70 $258.10 -$3.40 Silver - Oz-Near Month $5.11 $5.26 -$.15 Richmond Federal Reserve - Manufacturing Up - Orders Slip Atlanta Federal Reserve Current Production Index Eases Third Monthly Decline in a Row June Retail Sales rose +.1% - Ex Autos +.4% - May data Revised to a gain of +1.2% from +1.0% Producer Price Index for June fell -.1% - Core Rate -.2% But, Core Rate (i.e. without volatile food and energy) Rose +.5% for Intermediate and Crude Goods Consumer Prices for June flat - Core Rate +.1% May Business Inventories rose +.3% - Sales +1.2% Inventory/Sales Ratio 1.34 - Lowest on record Philadelphia Federal Reserve Survey Generally Softer Jobless Claims rose +11,000 to 310,000 after +5,000 revision Four Week Moving Average rose +2,750 to 303,250 June Industrial Production rose +.2% - But Capacity Utilization eased again to 80.3% from 80.4% Early July Univ. of Michigan Consumer Sentiment Eases to 106.2 from Final June Level of 107.3

To: MrGreenJeans who wrote (7055)	7/22/1999 9:47:00 PM
From: Investor2	Respond to of 15132

Thanks for posting the interesting article. The article references comparisons of the current market charts to the 1929 era. The article discusses the market "bubble" and contemplates "bursting the bubble." Many similar articles were being written with the Dow in the 7000's. Could the people who wrote those articles a year or two ago been farther from the truth? After several years of extensive publicity about "bubbles" and comparisons to 1929, the general investing population is able to easily dismiss such nonsensical talk as the babble of bears. Soon, the bears will be ashamed to publicly discuss such folly. Best wishes, I2