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To: bobkansas who wrote (3391)	1/19/2000 11:50:00 PM
From: TobagoJack	Respond to of 6018

Hi Bob, no offense taken as I know we are greedy and Hong Kong folks set an odd example for the world. We think money not made is the same as money lost, and we think the mutual fund folks in the US expecting 30+% per year return for the next ten years are nuts; they should be expecting 30+% per 10 days, twice or thrice per year. However, we also expect major storms in between times, and we in fact love the storms as well. We do not expect perfect timing but we are happy with slightly imperfect timing. Now I am still expecting an abyss between March and August/September. Head for the cove, drop anchor and man the pumps, say I. Here are some funnies from elsewhere on SI ... From "the mania chronicles"... A reader wrote: "The 19-year-old check-out clerk at the grocery store in my neighborhood was telling me about his Red Hat and was BITCHING that it wasn't going up anymore! I guess a couple-hundred-percent gain in a few months is pretty bad these days Another fellow I hunt with was recently telling me how he told a friend of his to pull his money from his investment advisor because the guy only got him a 30-percent return last year! This guy also told me that Microsoft would keep doubling every year... forever." More absurd stocks... Continuing our chronicle of absolutely lunatic stocks and valuations, a reader emailed me about a company called Silver Thorn Productions. It has a market cap of about $40 million, and according to Bloomberg, "the company is seeking a business opportunity in which it can be acquired by stock exchange or merger." So there's another $40-million worthless piece of paper. More speculation stories... We have been chronicling speculation lately, along with some amazing stories and amazingly ludicrous public companies. Here are a few more: A reader sent me an email about a friend of his who is about to retire as a blue collar worker from a Midwest company after 40 years of work. He liquidated his retirement plan, brought it over to his broker and dumped it all into a brokerage fund-sponsored Internet fund. In potentially one of the greatest anecdotes to the period we're living in, a story passed on Bloomberg this morning about a gold mining company trying to morph into an Internet company. As one of my friends pointed out, you can't make this stuff up. This is from Bloomberg: "South Sea Natural Resources surged on optimism. A group of investors led by Marcos-era Cabinet Minister Roberto Ongpin will take over the money-losing gold miner and turn it into an Internet company." (Note the company's name, harking back to a speculative bubble from yestercentury!) In the preposterous events department... A reader wrote in that a vacuum cleaner salesman recommended a few tech stocks to him after offering to sell him a vacuum cleaner on credit. In addition, there was an interesting comment in Barron's this weekend by an anonymous Wall Street type who said, "One can easily earn 20 percent a year and your money is growing faster than it would as a down payment. Even in a down market you can earn 8-10 percent." What the banker was referring to, was how folks are using stocks as a down payment rather than making an actual down payment. I was not aware that it was that easy and that riskless, and that even in a down market you make 8-10 percent, but that's what new-era types believe. All stories are culled from the following site: siliconinvestor.com