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Strategies & Market Trends : Z PORTFOLIO -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (5056)	8/15/2000 6:35:38 AM
From: Ron McKinnon	Respond to of 11568

PS right now, in all my various accounts, I am: cash 41% short 10% long 49%

To: Ron McKinnon who wrote (5056)	8/15/2000 10:21:53 AM
From: Paul Moerman	Respond to of 11568

OT - Ron, thanks for your feedback as well. I'm going to be traveling the rest of this week, so don't know if I'll be able to keep up with the market, much less SI. I think we're facing a bear market. I lived through one of those in '72-77 timeframe and it left some scars. I think the presence of the inverted yield curve has yet to be followed by the traditional recession. I'm concerned about complacency among investors, and the absence so far of panic during a hard sell off. I'm concerned about valuations - nasdaq stocks in particular are at historically high levels looking at price to earnings growth, price to sales, and most other measures. My current strategy may fail if the immediate 5 years ahead is a carbon copy of the last 5, but you'll agree that we don't know that's what's going to happen, I think! <g> My 401k plan recently changed to permit transfers of past deposits on an unlimited basis (vs. 1 per calendar month before). This allows me to leg in, or correct bad s.t. decisions without restrictions. Right now, preservation of capital is where my priority is at, but all of your comments were good ones. thanks! Paul