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To: AllansAlias who wrote (78628)	3/11/2001 11:47:25 PM
From: Haim R. Branisteanu	Read Replies (4) \| Respond to of 436258

Allan, there is a big difference between 1933 to 1950 to now and it is called anuity , life insurance, health insurance, 401K and pension fund. People live longer and have a higher living standard and as such their marginal "free cash" is higher and put to work in paper of expectations. There is a big difference between the real bubble stocks and real corporations, Aside most institutions are flush with money and will continue to be if we do not hit a deep recession, people work and contribute to pension funds and 401K's. Until the baby bomer start to retire there will be high markets, which will trade side ways for a while with 1 or 2% returns. Wel already gave back all gained since Dec 1998 that is well over 2 years of growth so we are well below the 4% growht since spring of 1998. Haim BWDIK Haim

To: AllansAlias who wrote (78628)	3/12/2001 1:38:04 AM
From: XBrit	Respond to of 436258

<<The NASDAQ blowoff that he so stupidly missed will look like a narrow blip on the long-term charts.>> You're right of course, and Buffett is very right. I read that same article at the time it was first published, yes it was 1999. I emailed it to a bunch of techie co-workers. Their response was polite derision. Buncha smart people, EE PhD's. But their average age was maybe 32, they all were 100% in tech stocks, and Buffett seemed like some mummified remnant of the buggy-whip era. Most of them have been decimated by now. Having said all that, the blip enabled a 15x improvement in my net worth from 1993 to 2001, and that has utterly changed my life. Thanks in part to my starting to hang out here last summer, and going to 100% cash very shortly thereafter <vbg>