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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (90355)	3/19/2001 7:24:52 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

With the S&P P/E average still about double the long run, I am not ready to join you on the joy trail yet. I think there's probably still more money to be made on interest rate cuts, which have made bonds very good for the past year. And I am heavily long in energy in about 35 different kinds of plays. And short the S&P, into BEARX, and holding puts on the Dow.

To: Freedom Fighter who wrote (90355)	3/19/2001 7:36:15 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

A voice from the past: Message 12993026

To: Freedom Fighter who wrote (90355)	3/19/2001 8:41:22 PM
From: Mike M2	Respond to of 132070

Wayne, check your calendar it's not April 1 ( April fools day) I guess it's no surprise that I disagree. I won't blast because I am a forever bear but I will say that I still believe a severe bear market and recession is unavoidable. My guess is that it will be obvious to all even CNBS by years end. Why in brief US$ will fall now that the US economic miracle has lost its luster. Corporate repurchases of shares becomes more difficult - remember some years this money flow exceeded baby brat flows into mutual funds. The long decline of savings rate into negative rate served to boost consumption along with the wealth effect of the stock market ( do we call it the poverty effect now) . Corporate earnings will no longer have benefit of the stock market gains funding their pension funds to the same extent as before, employee stock options containing wage demands, financial gains from trading over priced paper- like dot.cons . People have only begun to recognize there is malinvestment wait until they figure out the scope ho ho ho. I know you are only joking -g- Mike