To: Jack of All Trades who wrote (29863 ) 10/15/1999 10:30:00 AM From: Matthew L. Jones Read Replies (1) | Respond to
No, I couldn't disagree more. OF COURSE THE MARKET IS GROSSLY OVERVALUED!! That having been said, my objection is that when the FED shakes the markets with this kind of crap (because he lacks the guts to do it with the tools he has been given), the whole market drops. Then as soon as the dust settles (several days) the same old glamour stocks are the first ones people come flocking back to. If he thinks MSFT, DELL, CSCO, WCOM, INTC, LU, IBM, CPQ, (the usual suspects) are overprice, then say, "THESE STOCKS ARE OVER PRICED" (which is not really his business in the first place). But, when he jabs the markets he hurts them all. Last year when this same bald headed old fart did the same thing, I lost 260K in "value stocks" (the biggest loser had a PE of 9!). I only wish that I had my money in the over priced tech stocks because they took less of a hit and came back much quicker!
