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To: Bargain Hunter who wrote (19030)2/10/2001 12:43:34 AM
From: Craig Freeman  Read Replies (2) | Respond to of 60323
 
Art, IMHO, you may not be right on but you probably hit close enough to the mark to count in any game except horseshoes. Unfortunately, without a half-dozen links to validate your opinion, you left yourself wide open for criticism. For example:

"Art, that is one of the most preposterous market-related claims I have ever heard. Do you seriously believe that if some institutions were deliberately selling technology shares for less than their "real" value that there would not be other institutions snapping up those "cheap" shares just as quickly? If so, I have some undervalued dot-com shares to sell you ...."

Here's a guy who obviously slept through "Market Manipulation 303". Otherwise he would have known that there is no such thing as a "real value" for any stock and that market makers work very hard to assure that markets are never in perfect balance (if they were, no one would need the market makers!) Worse yet, he still has "dot com" shares in his inventory that he is trying to unload on you at pre-sale prices.

If I have learned anything from posting here, it's that everyone who originates a new post is always wrong -- except the current "hero" (who is summarily drawn and quartered at regular intervals). The best anyone can do is to post their honest opinions and not take the responses too personally.

Craig

Reply to: "There is a growing amount of evidence that the administration is obtaining cooperation from institutional investment firms to stop investing in technology issues as a way of causing a market panic and a faster reaction by Congress to the administration's tax cut proposals."



To: Bargain Hunter who wrote (19030)2/11/2001 3:27:29 PM
From: Art Bechhoefer  Read Replies (1) | Respond to of 60323
 
<<Do you seriously believe that if some institutions were deliberately selling technology shares for less than their "real" value that there would not be other institutions snapping up those "cheap" shares just as quickly?>>

Market psychology plays an important role in how ALL investors regard certain kinds of stocks. If someone wanted to manipulate a sector of the stock market, it would require more than just selling a handful of key stocks. It would probably involve discussing the "economic situation" with trusted investment managers and letting them know that it was unlikely that, say, the entire technology group would be held in great esteem for at least a few months. Then, when it became clear that stocks in a particularly hard hit sector had probably bottomed, again notifying investment managers that the "economic situation" was beginning to look better, that would be a signal to jump back in.

Many of the largest investment firms have close relationships with the administration. One can draw several conclusions. Mine are drawn from the experience of over 45 years investing, and very little surprises me.

Art