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To: Mark Marcellus who wrote (7367)	3/3/2001 12:52:36 AM
From: Thomas M.	Respond to of 17683

Al Goldman said that stocks are cheap and he recommends investors to be buying here. So, Ted David reminded him that he was bullish at every level, including NASDAQ 5000, and, since he seems to find stocks cheap at any level, he asked what it would take to make him bearish. Goldman could only fall back on the fact that he has been bullish throughout the 1990s, so presumably he and his clients have a much lower cost basis than current levels. He also admitted that he had been wrong, but re-emphasized that stocks were cheap here. He said that stocks haven't been this cheap since 1990, which of course is a blatant lie. A quick check of price to sales ratios reveals that tech stocks and most blue chips are much more expensive now than in 1990. Tom