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To: Imuah who wrote (76466)	11/19/1999 8:46:00 PM
From: pater tenebrarum	Respond to of 86076

Imuah, while one can never be entirely sure of this, the fact that there were massive inflows into mutual funds in recent weeks coupled with inflows from overseas hitting fresh peaks, and the mania spreading around the globe in the face of rising rates, rising oil prices and the imminent Y2K event i would say we are just witnessing a typical late stage euphoria peak....i don't know if 'the' top is near, but the current set of conditions looks extremely suspicious. who in his right mind would want to go long right here and now? obviously fund managers are chasing performance regardless of valuations or any other fundamental criterion. as i have said before, this is the height of speculative excess at least in terms of what i have seen so far in my life, and many others concur. i'm absolutely taken aback by the complacency and smugness displayed by fund managers and strategists interviewed on CNBC... if this doesn't lead to a rude wake-up call soon, i don't know what will..... hb