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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (5259)	6/8/2000 10:01:00 AM
From: LLCF	Respond to of 5676

< For high productivity growth, capital is being destroyed in relatively short order in many sectors, and the existing companies will be under stress, both facing new competition and the need to update their capital facilities. This should favor the psychologically-based bidding up of new competitors, and the downgrading of the old line companies.> I'm sure most are aware of the book 'The Gorilla Game' which IMO is an must read. DAK

To: Don Lloyd who wrote (5259)	6/8/2000 10:13:00 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 5676

Don, <<My primary conclusion is that using productivity growth data to justify unlimited stock prices is absurd, even if the productivity data were of pristine origin.>> i can live with that as well...<g>. imo the rationalizations and justifications that have accompanied the growing stock market bubble are all irrelevant. the main driving factors remain liquidity and of course emotion...most money managers will btw. admit privately that they see the bubble for what it is, but at the same time profess to have 'no choice' but to participate in it. one day of course the chaotic system that is the stock market will in the words of Johanson and Sornette "become orderly in the sense that all participants try to do the same thing at the same time, i.e. sell". that's going to be our several sigma MCHVE (mass correlated hyper volatility event). a.k.a. LLCF (lock limit cluster f...)<g>. regards, hb