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

To: MythMan who wrote (57601)	8/20/1999 5:29:00 PM
From: pater tenebrarum	Respond to of 86076

MM, well he goes on to say in what way stock fund managers differ from their fixed income and currency counterparts. the 'fully invested bears' is about right assessment-wise. it is something i keep on pointing out: we all know it's a crazy mania full of excesses, but who knows when it will end? for all i know it could carry on for quite a while still and we could in the end see prices that are beyond most people's imagination now. just look at the Nikkei's mania, and you will note that from a 1969 level of 1,000 (same as the Dow at the time) it went to 40,000 and the last 12,000 points it went straight up, without interruption. how do we know the same won't happen here? i'm actually prepared to bet that it will happen sooner or later, and probably sooner. probably we won't go as high as the Nikkei did, but no mania has ended with a trading range, they all end in blow-off tops. why should this one be different?