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To: yard_man who wrote (93714)	4/12/2001 6:06:51 PM
From: re3	Read Replies (1) \| Respond to of 436258

head over to the walmart and get yourself a tv already -g-

To: yard_man who wrote (93714)	4/12/2001 6:13:57 PM
From: re3	Read Replies (1) \| Respond to of 436258

HE said price line is not coming back. he said bottoms come when people have given up which he feels they haven't. he said there is no reference of stock prices related to the underlying business...too much focus on price action. he said that speculators have turned themselves into investors by hoping that things will come back when their original plan was to chase price. b/4 its all over he feels there will be more selling. referred to templeton who said this is the biggest bubble of all time. you can run back to walmart and return the tv <g>

To: yard_man who wrote (93714)	4/13/2001 9:16:33 AM
From: Mike M2	Respond to of 436258

tippet, Ike summarized it well. The segment was much too brief. Fleckenstein said the public had behaved like speculators on the way up and that speculators are concerned with price action rather than fundamentals however now that some stocks have tanked the public is behaving like an investor and saying I'm in it for the long haul and it'll come back - well Priceline is not coming back. He said if one is going to speculate you must use discipline ( cut your losses) . Investors are concerned with valuations and he looks forward to the day when he can practice long term value investing. The preceding is from memory but should be fairly close. Mike