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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BSGrinder who wrote (74125)	1/20/2000 2:22:00 PM
From: Freedom Fighter	Read Replies (2) \| Respond to of 132070

Kit, I have an observation about this kind of stuff. The fact that the market keeps rewarding capital gains on stock investments, accounting gimmicks, spin, leveraging the balance sheet to buy back shares, forward looking optimism that rarely comes through etc... is an indication that we are experiencing a bubble. It has nothing to do with "new era" productivity, inflation, economic growth, interest rates or any other fundamentals. Those things are the rationalizations of people who stand to benefit from the bubble or get hurt by its demise. I can find no clearer evidence that the system is out of control than observing what is being rewarded by investors. That's the newest thing about this era. The level of insanity. That the Fed still talks out of both sides of its mouth when it's this obvious is an indication of brain damage. (g) Wayne

To: BSGrinder who wrote (74125)	1/20/2000 2:23:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Kit, Few rationalizations. However, I would note that Compaq, Dell and Hewlett have yet to report their disasters. The only one I am worried about is HWP with its new scammistress at the helm. These bad eps may remind investors that Intel and IBM really had crappy quarters and are having another one right now. But, in all honesty, this market in the nifty fifty is becoming less and less one that reflects fundamentals, even at an exalted price, and that reflects bubble expansion no matter what the reports say. Other than that such a disconnect cannot last forever, I have few comforting words. Now you see why I buy in thirds and use 90/10. You never know how stupid the herd can be or when it will morph from a stampeding menace into cans of corned beef.