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To: Gary Burton who wrote (56746)	12/11/1999 4:49:00 PM
From: Crimson Ghost	Respond to of 95453

Gary: OT Do you perhaps remember the great gambling stock mania of 1978. Similar to today's internet mania -- although much smaller in scale. I doubt if all gambling stocks together were worth $25 billion at the 1978 peak. This compares with a $1 trillion valuation for the internet stocks today. And gambling casinos were proven money makers if the powers that be could be persuaded to allow them to spread, Again unlike the internet stocks. 1978 was the year gambling was legalized in Atlantic City. Until then it was only legal in Nevada. Stock market investors acurately saw this as the first step towards the legalization of gambling in many states and cities -- so the gambling stocks exploded. Many of them climbed ten times or more in a year. At the peak of the mania all a company had to do was announce it was thinking of opening a casino in Atlantic City and its stock would double overnight. Sounds familiar doesn't it? The gambling stock mania was ultimately justified as legalized gaming spread around the country. Even so many of the stocks plunged 50-75% from their peaks and did not reach those levels again for years. A lesson here perhaps for internet investors -- they are taking huge risks even if their wildest growth assumptions prove on target.

To: Gary Burton who wrote (56746)	12/11/1999 8:08:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

Gary, I've just re read the Wolanchuk interview posted here by George. The extraordinary thing about his comments is that he sees a massive bull market in commodities accompanied by a bull market in stocks. That can only mean one thing, utterly explosive worldwide economic growth. The intense money pump going on world wide would suggest just such an eventuality and also seems confirmed by what is going on in the worlds bourses. So far he's been right on just about everything. 1. Major rally in the Naz. 2. Big rally recently in gold. 3. Oil hit 27. His commodity calls for the future: 1. $1.60 Copper 2. $5.20 Lumber 3. $800 Gold (yup no typo) 4. $33 Oil then over $40. 5. Bonds are a short. Damn it cost me money every time I bet against the Son of a B. <g> I know it's easy to bash the guy because he is so "wild", but it seems he really has got the right counts and understands the overall scenario quite well. Now if oil goes to 40 in the next two years, I simply can't imagine what that would do to the OSX. How are you viewing commodities? I have a feeling you are somewhat of a deflationist. I emailed you but got nothing back. Oh well. Bull