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

To: Justa Werkenstiff who wrote (8003)	8/23/1999 6:23:00 AM
From: mister topes	Read Replies (2) \| Respond to of 15132

Isn't life grand! Monetary policy tightens, rates move out of sync with valuations, inflationary expectations are skewed upward, the dollar sinks like a stone, historical market leaders falter, the market fails to make material upside progress for several months, and investors in general say "What, me Worry"? Investors have stopped making any significant new profits and they don't even know it! Then someone who has been on the right side for nine years comes along and says the emperor may be wearing no clothes, and few are interested in hearing about it. Gotta love that human nature.

To: Justa Werkenstiff who wrote (8003)	8/23/1999 11:27:00 AM
From: Ian@SI	Read Replies (1) \| Respond to of 15132

Justa, Perhaps, Glassman's new book, "Dow 36000" would provide some different insights into whether or not the market is overvalued and by how much. In it he builds the case for Dow 36000 within 5 years. One of the points made is that the "risk premium" with equities is unjustifiably large and is being removed. One would be wise to attempt to learn Brinekr's model and confine one's criticism to it. Valid point. I would observe, however, that once a system that has always worked becomes widely known, it usually ceases to work. Ian.