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

To: Knighty Tin who wrote (79572)	4/15/2000 3:45:00 AM
From: novice investor	Read Replies (1) \| Respond to of 132070

Hi Michael, 11 years ago in December '89, the Tokyo stock market hit all time high just below 40,000. On February '90, they had a 5 % correction in one day. A series of extremely volatile and losing trading pattern followed for about a year until they hit the bottom around 14,000. For the last 10 years they've managed to recover it back up to 20,000 (still 50 % off). The NASDAQ pattern appears disturbingly similar to the TOPIX from a decade ago (at the initial phase of decline). Do you think there is similar dynamics at work here? Thanks, - NI

To: Knighty Tin who wrote (79572)	4/15/2000 12:00:00 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

To All, A few weeks back I was answering a note bragging about performance in one of the goofus PBHG funds. Talk about monkeys with buy buttons. <g> Anyway, there was a nice piece in The Houston Chronicle today. They got it from Bloomberg, but I couldn't find the page over there to reference it. PBHG New Opportunities. If you put $10,000 in on December 31, you would have had $13,298 on April 7. However, that $10,000 would be worth $8543 today. Of course, you know me, and I think of all the suckers who put their last week IRA and 401-K money in last Friday, gettin a jump on tax day, or sometime around then. Down 36% in a week. Whoa, daddy, put the margin clerk's number on speed dial. <g> Janus Twenty did not do quite as poorly, but, then, they had not done nearly as well by April 7. But the were still down 15% on the week. And even brain dead Vanguard Index was down 10%. Anyway, it is nice to see that stupidity does not always pay off for fund managers and fund management companies.