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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: BDR who wrote (22185)	4/3/2000 9:25:00 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 54805

Dale, If the market thinks that the DOJ is going to start to intervene in every sector where one company has a controlling position (threatening the underpinnings of the GG) we could be seeing a lot more volatility and drops in prices. Take a look at the stuff published right around the time of the judge's Finding of Fact. You'll see that very concern expressed, to the extent that a lot of people thought the Finding would cause the market to fall apart. After having reviewed those articles, take a look at the value of the Naz on the day the Finding was published. Take a look at it now. --Mike Buckley

To: BDR who wrote (22185)	4/4/2000 12:25:00 AM
From: Bridge Player	Read Replies (1) \| Respond to of 54805

<< and finding myself facing a situation such as that which occurred in 1987 or '73-'74.>> Dale, To the best of my recollection, without looking things up, 1973-1974 (in particular at and near the lows), was characterized by the following: The major averages selling at 8 or 9 times trailing earnings Many, many fine small growth companies with histories of compounding earnings at 15-20%+ selling below book value and at 4 and 5 times earnings Inflation double current rates and headed higher Exactly one (1) stock (at the bottom) on the NYSE selling for more than 14 times trailing earnings...Baxter Labs Over 400 new lows on a fairly regular basis Hundreds of stocks down 80-90% from their 12-month highs Please do not compare today's decline to that era. There is literally no comparison. BP