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To: Z Analyzer who wrote (8175)	3/27/2000 3:18:00 PM
From: Sam	Respond to of 9256

OT <<Do you remember how Biggs hypthesized Greenspan would target the Nasdaq high flighers since he seems oppoosed to changing margin requirements-maybe the best way to do it.>> I found him fairly pompous as usual. By "all conventional securities analysis" we are in a bubble. Well, yeah, but I daresay if he had, e.g., bought AOl when Bill Miller of Legg Mason did and held it for years he might feel a little differently. I still don't see the bubble as very wide, even if it is deep in spots. All Greenspan really has to do is wait--these stocks will drop in the ripeness of time of their own weight if it becomes clear that there is no "here" there---that is, no profit stream. That's why it is really important for AG to gently raise both initial and maintainance margin requirements--the losses and the sad stories become compounded with margin. If requirements were more like, say, 80% or 85%, the damage would be limited. Yes, some people would lose a lot of money, but frankly, that would be their stupidity. The system wouldn't be endangered. Look at what is happening to one of the Biggs of the Internet, Softbank. A 80s Japanese story in the 90s.Apparently they need some money now. The stock has fallen 35% in recent weeks. Message 13289965