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To: levy who wrote (12944)	10/15/1999 3:58:00 PM
From: RTev	Respond to of 28311

Unfortunately, even if you had written such a book before the 70th anniversary of the '29 crash, it probably would not have made you rich. One gets rich in a market like this one (or that one back then) only by telling people what they want to hear: "It's a new paradigm." "The rules have changed." That sort of stuff. Consider, for instance, the outpouring of rage when Microsoft prez Steve "Baldly Bombastic" Ballmer mentioned that the market was overvalued. There were some who called for his resignation because they insisted it was inappropriate for a company exec to comment on the broad market. But when company CEO Bill "Yeah, that's the story" Gates said the other day that the market values were justified, many of the same folks applauded his comments. Oh and then there's this quotation about the Fed. I like it because it encapsulates so much of what's written on these boards about that agency: "For the Federal Reserve Board to deny investors the means of recognizing economies which are now proved, skill which is now learned, and inventions which are almost unbelievable seems to justify doubt whether it is adequately interpreting the times." It does seem to reflect the spirit of the day. The only problem is that the quotation is from an article published in May, 1929.