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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (9247)	12/10/1999 1:08:00 AM
From: jeffbas	Read Replies (1) \| Respond to of 78595

Mike, this reminds me a lot of the "go-go" days of the late 60's, when minicomputer companies (Digital Equipment), computer leasing companies (Leasco), conglomerates (Gulf & Western, Teledyne, Litton, Loews) and the "Nifty 50" (Avon, Xerox, Polaroid) were all the rage -- but on a larger scale because there is more money sloshing around now. Interestingly, the party did not really end for years until 1973-74, when many of the "names" were down 75% or more. Also interesting is the fact that there was rampant speculation while the Dow did not run away. It was an exciting time for a young guy like me then although it wasn't so easy to make much money in the market on your modest savings, when good jobs for young people were paying $10,000+. Any other oldtimers around who see the similarities? If it is analogous and this is like the peak year 1968 (I believe), we still might be quite a while away from market calamity. Mike, I advise you to suggest as strongly as possible that your friend immediately take his cost out, so he is playing on the house's money. It is a no-brainer that he is gambling and that is the sound strategy for gambling when you get way ahead. Also if he makes the first sale, the second may come easier, while he still has significant profits left. Do you have a view on EBSC now?

To: Michael Burry who wrote (9247)	12/10/1999 9:57:00 AM
From: Daniel Chisholm	Read Replies (1) \| Respond to of 78595

OT: Mike, Following my post this this board, I wrote an email to my family that I had been agonizing over writing for months now. It is basically a "run for the hills and go to cash" missive. I had been reluctant for months to write it, because my record to date on giving financial advice has been 100% unsuccessful, even though (until recently!) I have done pretty well myself. Rightly or wrongly, I now feel that we are seeing something that none of use have every personally experienced before, and most of us on this board are beginning to realize it (of course to be honest, we could be all deluding each other and reinforcing each others delusions too). FWIW my friend sent me this email yesterday: Daniel this has nothing to do with our conversation but I'll be selling just corel at 4 pm tomorrow no matter what happens. Oddly enough I really don't seem excited one way or the other So Mike, either your friend or my friend will turn out to be the smarter one (and each has shown themself to be smarter than either one of us ;-). Let's see who the right one is, and then we'll have him manage all our money ;-) (isn't that how mutual fund managers are chosen for promotions? Shudder...) - Daniel