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To: American Spirit who wrote (43662)	12/16/2000 11:14:17 PM
From: KevinThompson	Respond to of 57584

AS, Optimism is fine, but I must ask, where is your evidence that AG or the FED would do as you are suggesting. Yours and mine, and every other market investor's beliefs about the current conditions is one thing, but where is your evidence that AG, let alone the FED as a whole, would do anything like what we would wish them to do (i.e. rate cuts)? I just don't see it. True, they might give us a little break - but I would consider that just good fortune. Most likely they will act independently, and I can't find anything to suggest the contrary. Just because we don't like things the way they are in the market (or even the economy as a whole), is no reason to assume the FED will do something now that we would like for the sake of our portfolios. Respectfully, KT

To: American Spirit who wrote (43662)	12/17/2000 12:21:03 AM
From: out_of_the_loop	Respond to of 57584

One thing I have noticed over the past few quarters is that MSFT consistently seems to warn, gets hit and then goes out and beats WS estimates. It always seems to take the market with it for a spell. Any comments on this as it relates to the broader market?

To: American Spirit who wrote (43662)	12/17/2000 1:00:11 AM
From: jjetstream	Read Replies (1) \| Respond to of 57584

AS, Yes, of course AG does care about the markets, ALL of the markets....our little microcosm of equities, and in a broader sense indexes, is only a fraction of his concern...if your argument in the ESHR example was to state that AG should care about its valuation, and what the market agrees to pay for ownership in it...you are wrong....this is not his responsibility...he must keep the wheels oiled and if the market dictates that ESHR is worth what you stated, so be it...YOU feel that it is undervalued, however the marketplace, at this point in time, does not...this is what buyers will pay for it..... Now, I'm not saying that his policies and actions are not the cause for ESHR (your example) being undervalued...they just can't be his concern in a valuation sense..... Would you have AG and the FED dictate policy, that solely was to the benefit of the owners of stocks.....long for that matter........what is that.......manipulation in it's broadest sense.......as you know that dynamics of ALL markets are very complex.....and moving rates EITHER way have a trigger effect, worldwide......I'm just not sure that the hit all investors/traders took in this decline is his only concern...so decisions can't be made with only that in mind <He can staunch the bleeding for companies like this, companies which millions depend on> Yes, the FED's actions could probably help, SHOULD THEY,....don't forget the billions & billions of liquid money he poured into the economy is part of the problem that created this bubble, which is now leaking....