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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (56451)	1/10/2001 6:35:09 PM
From: accountclosed	Read Replies (3) \| Respond to of 436258

I think folks were reacting to that in the link i thought differently. i thought people were saying: 1. he was clownish Message 15157743 2. some sort of jibberish put down Message 15158210 3. stock tips from battapaglia Message 15145145 4. joined clowndom Message 15144369 5. drinking bullwater Message 15157115 6. selling out Message 15157148 7. someone stole his password Message 15157380 8. mescaline in his coffee Message 15157876 ======= and it's all in good fun, one would hope, but i'm not sure it is. the thing that is remarkable to me is that there was the naz sitting at 5100. on cnbc etc. nearly everyone came on and touted their stocks and called for higher highs. this thread had already putted the crap out of everything and lost a ton. and bill sat there calling for naz 2250. best friend the thread had on the street. 60% decline predicted. not only that, but he said "myth" about a dozen times on tv and then "antsy" and then "clown"... last weekend, lou rukeyser, who doesn't tolerate bearishness for more than an instant tried to pin him to upside targets. he said he wasn't ready to do that because he wasn't sure we had reached bottom. he also said that he found more stocks attractive now 60% lower than he did earlier. what i object to is a religion of bearishness. or bullishness. if one thinks msft has bad accounting as another poster suggested today, what is msft worth? zero? a buck? it's down 60%. and while i think it is perfectly reasonable to not like msft at this price, the discussions are almost always devoid of a valuation that would be reasonable. in your post you refer to pc slowdown. but what impact should that have on the stock? is it in the price or not? the mania we have just seen was marked by a logic that tech was good. and tech stocks went up. which proved they were good. logic which prevailed at 20 per share of an issue still prevailed at 150 for the same issue. in other words the bulls saw "good" in their stocks and didn't question what stock price recognized how much good there was in the underlying company. as reasonable investors, shouldn't we evaluate prospects and set a price and take an action based on those prospects? shouldn't people that were bearish at 5100 likely see more opportunities and celebrate those opportunities at 2300 on the naz? what i see is the same rabid negativism without regard to the price level. disagree with meehan about msft, that's utterly fair and reasonable. but no one on wall street supported the views espoused here more and people are calling him a clown. that's just silly. either memories are short or judgment is off. it seems to me that an unbiased and therefor more dispassionate and in the end more successful investor would be bullish most of the time. at least bullish on the future and growth and change. when valuations get out of whack, be bearish by all means based on price. but at some point, perhaps not yet, but at some point, we should be happy that the lower prices we were looking for have reemerged again.