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To: Seeker of Truth who wrote (5119)	5/22/2000 2:53:00 AM
From: TobagoJack	Respond to of 6020

Hi Malcolm, I mean 1987 collapse followed by 1994 drip drip drip continuous but steady bleeding. I do not think the Sony and HPs of this world are in trouble, but I do believe folks having lost greatly in one stock sector will sell down in others, and this is where the 1998 Asian collapse analogy kicks in, the feared chain reaction. My Sony is down a good chunk in the last two weeks. The economy will not collapse in the sense that folks still need to be fed and housed, but I do not see a prayed for quick recovery in equity price. I really really hope I am wrong on this as I am not exactly positioned for a total cataclysmic collapse 1929 style. I am more positioned for a 1987 collapse, but am not relishing the prospect for a 1994 drip drip drip down either.

To: Seeker of Truth who wrote (5119)	5/24/2000 3:01:00 AM
From: b_spiral	Read Replies (1) \| Respond to of 6020

Malcolm I picked this off the MMD thread - who took it from the joke thread. Interesting. BTW - happy birthday (late). THIS TIME IS DIFFERENT: "Stock prices are not too high and Wall Street will not experience anything in the nature of a crash. There may be a decline in stock prices, but not anything in the nature of a crash. "The present high level of stock prices and corresponding low levels of dividend returns are due largely to ... the reduction of risk to the investor, largely brought about through investment diversification made possible for the investor ... "We are living in an age of increasing prosperity ... due in large measure to ... inventions such as the world never before has witnessed. The rapidity with which worthwhile inventions are brought out is the result of the tremendous research laboratories of our great technological companies. Applications of these inventions to business means greatly enhanced earning power. This is a new and tremendously powerful factor in the world and one which never before existed." Professor Irving Fisher - Yale University, in a New York Times Editorial - September 5, 1929. Message 1095045 ---