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To: PaperChase who wrote (75599)	11/16/1999 10:44:00 AM
From: re3	Read Replies (1) \| Respond to of 86076

Ground Control to Major Tom Ground Control to Major Tom Take your protein pills and put your helmet on Ground Control to Major Tom Commencing countdown, engines on Check ignition and may God's love be with you (spoken) Ten, Nine, Eight, Seven, Six, Five, Four, Three, Two, One, Liftoff This is Ground Control to Major Tom You've really made the grade And the papers want to know whose shirts you wear Now it's time to leave the capsule if you dare "This is Major Tom to Ground Control I'm stepping through the door And I'm floating in a most peculiar way And the stars look very different today For here Am I sitting in a tin can Far above the world Planet Earth is blue And there's nothing I can do Though I'm past one hundred thousand miles I'm feeling very still And I think my spaceship knows which way to go Tell my wife I love her very much she knows" Ground Control to Major Tom Your circuit's dead, there's something wrong Can you hear me, Major Tom? Can you hear me, Major Tom? Can you hear me, Major Tom? Can you.... "Here am I floating round my tin can Far above the Moon Planet Earth is blue And there's nothing I can do."

To: PaperChase who wrote (75599)	11/16/1999 10:49:00 AM
From: Oblomov	Read Replies (1) \| Respond to of 86076

PC, I can't claim to see the future. The current market is suggestive of previous manias, and when the graybeards (Buffett, Templeton, etc) express concern about a "bubble" in equities, it certainly is nothing to dismiss. I do not know if or when it will end, but my study and experience suggest that buying undervalued equities is the only way to consistently make money in the stock market over the long term. Even if I am just speculating, I would rather be long stocks in a market where most stocks are in an uptrend, where P/E, P/Revenue, P/Book, and Debt/Equity ratios are all low, and the ROE is high. The current market exhibits none of these conditions. Instead, what we have is a frothy environment where ignorant people are buying stocks because they are going up, splitting, a dotcom, or all of the above. Is this a suitable environment for investing, or just a speculative casino?