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To: Innuit who wrote (7735)	3/31/2000 1:44:00 PM
From: Chuzzlewit	Read Replies (3) \| Respond to of 9068

Innuit, I think you misunderstand. I am, and always have been a growth investor. The question I am constantly grappling with is: how much should a prudent investor be willing to pay for growth? My simple-minded approach is an attempt to deal with that issue. If you do not set price limits based on rational analysis how do you do it? Or do you simply assume that the strong form of the EMH is correct and throw analysis out the window? We are currently in a market bubble and valuations seem to make little sense to me in the context of even the most optimistic forecasts. The demise of the Japanese market bubble, and the bursting of the nifty-fifty bubble are two recent examples of what can and will (IMO) happen to this market. I do not believe in value investing because it ignores the future. I do, however, believe in investing in growth companies where future prospects justify current market valuations. TTFN, CTC

To: Innuit who wrote (7735)	3/31/2000 2:44:00 PM
From: MikeM54321	Respond to of 9068

"...we would all buy MRK, PFE, JNJ GE... Innuit- Hey I did!<g> MikeM(From Florida)

To: Innuit who wrote (7735)	3/31/2000 5:52:00 PM
From: Mike Buckley	Respond to of 9068

If one bought only on the basis of evaluation we would all buy MRK, PFE, JNJ GE etc and guess what? Their prices would be sky high. I do get hung up on valuation, which is the precise reason I'm glad I didn't buy some of those pharmaceuticals -- because their prices got ridiculously sky high. Anyone who believes a company is worth what someone else is willing to pay for it better be prepared for the day that comes when nobody is willing to pay more than half the previous going price. --Mike Buckley