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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (30170)	12/23/1999 4:14:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

<<This is from Dr. Ed Yardeni: "In my recent meetings with institutional money managers around the world, I found a remarkable consensus about the U.S. stock market. The widespread view is that the market is experiencing a classic speculative bubble. Not the overall market, just the technology sector of the market. The rest of the market looks very cheap to many of the money managers I've chatted with over the past few months. So what are they doing? Buying more of the tech stocks that they believe are grossly overvalued! They have no choice they tell me. They've been forced to trash their valuation disciplines and to play the momentum game. 'You got to be in it to win it,' said one bubble player. Could it be that the tech buying panic isn't a bubble? These are stocks for the New Economy. How many companies can cut costs, increase productivity, innovate frequently, and sell their innovations worldwide quickly? Not too many, and most are in the tech sector. In this 'Jurassic Park' scenario, the big-cap tech stocks may continue to get bigger. While I've tried real hard to make sense of the stock market's tech boom, the simple bubble model may still turn out to be the right one. We may find out early next year." >>