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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (42238)	12/7/2000 10:06:13 AM
From: Oblomov	Read Replies (1) \| Respond to of 42523

I admire your discipline. I tend to look at sectors and individual issues rather than indices. From my perspective, there are certainly some values out there (perhaps one day I'll convince you that the idea of over/under-valuation has merit)- stocks trading under book value, or under cash value, or at less than 0.5x sales, etc - all with healthy balance sheets and good management. I think that the probability of a general recession is, at most, moderate. It seems more likely to me that the economy will mirror the rotational nature in the markets; that is, the "old economy" capital-intensive companies boom for a while while the consumer goods/services and tech sectors enter a shallow recession. But, even a slowdown in growth of tech will be seen by some as presaging an "internet depression." It should only be disconcerting to those who really believed that the business cycle had been abolished. As an investor, I see a good buying opportunity for tech stocks coming in 3-6 months.