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To: SliderOnTheBlack who wrote (75585)	10/4/2000 1:51:41 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

I am not singling anyone out with my comments about scare tactics, nor do I believe the gold bugs are full of it. I simply don't think we are still standing on the high tech precipice like we were for most of the last two years. PE's are higher now than in the early 90's but there are good reasons for that: 1. Reduction of the defense spending post cold war spurred prosperity and high tech revolution. 2. Change in tax rules (401K, Roth) encouraged retirement savings. 3. Many millions of more people investing. More money chasing investment opportunities implies higer valuations. We will most definitely see bear markets again. Perhaps we are entering one now. I happen to believe we are entering a bear market post elections. I suggest that bear market might no longer mean what it used to. Regarding Soros, Druckenmiller, and others, I am a strongly fundamentals oriented investor. I agree with them to an extent. The last few years have been incredible. Don't believe we are still in the "abso-friggin incredible" mode currently. In summary, just because I don't believe things are dangerously bad now doesn't mean I'm a bull. I am, in fact, bearish on the overall market, but looking to pick up some jewels among the rubble. Willing to pass on the rotten Apple I see.