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To: Road Walker who wrote (103190)	5/8/2000 6:07:00 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 186894

RE:"if you are going to criticize someone's stock picks, it would be polite to at least tell them which stocks you don't like, and you really should give your reasons." I wasn't criticizing anyones stock picks. I own all those in one shape or another myself. I just think there is a possibility that a few of them may fall victims of subtle paradigm shifts...like AOL for instance...free internet looks like a threat...still, newbies like AOL. I hear Netscape 6.0 is too complicated and looks like AOLs interface. AOL has subscribers and content but it's competitors (like NetZero) have "cheap". Still, for now it would rally with the NASDAQ. MCI/WCOM is another I'd worry about. Like ATT...they are vulnerable to competition in long distance. Why else is it down? This one scares me. SUNW is another one I own that I'm watching carefully should businesses decide to pay less for servers and if Itanium should take off. Still up in the air so I would at least expect SUNW to rally with the NASDAQ. Oracle is one I don't follow as closely as the others. No opinion except I would fear Larry Ellison taking another TransPac sailboat race. <G> Jim

To: Road Walker who wrote (103190)	5/8/2000 7:26:00 PM
From: Harry Landsiedel	Read Replies (2) \| Respond to of 186894

John Fowler. Re: "There was a VERY GOOD page one article about Greenspan and the markets in today's WSJ." I agree. It was an excellent article. Re: "To say he is/has been obsessed with valuation/stock prices may be an understatement." The feeling I got from the article is that he has been obsessed with HOW valuations impact the economy and by extension monetary policy. Net, Net, the article shows him to be cautious and while he listens to the inflation hawks (Linsey/Broaddus), he admits that over the past 5 years it has been the investors who have been right about the economy and NOT the economists. Like you, I think he exaggerates the impact of the "wealth effect" on overall consumer spending, but I now feel that he is using that as his current hypothesis. If the facts do not bear it out he will change his opinion. I just hope it's soon enough before doing too much damage to the economy. Could today's action be symptomatic of an ongoing reduction in stock prices with high PE's to reflect rising interest rates? I wonder where the bottom will be? HL