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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (1061)	4/19/2001 9:19:59 PM
From: MrGreenJeans	Read Replies (2) \| Respond to of 10065

Tulips Lots of talk about tulips in your post. Here is another perspective. A case can be made that the equity markets are deserving of trading at higher levels in here because of high productivity growth, low inflation, federal reserve rate cuts-a reliquidfication of the economy at a a very rapid rate, and a brighter earnings outlook in the quarters ahead all causing price earnings expansion thus higher equity prices. At these levels the market has not taken into account all four major rate cuts to date. Investors seem to be ignoring them. In my mind, the start of the bear market was the government ruling against Microsoft changing investor sentiment overnight. The ruling most probably was coincidental with the start of the bear market but marks a defining moment in my mind. Had the government not ruled against Microsoft I suspect the Nasdaq would be trading at much, much higher levels today. When the Appeals Court overturns or returns the case back to a lower court, at that point I believe that the Bush Administration will settle with Microsoft before it goes further, perhaps investor sentiment will change once more if the rate cuts don't impact sentiment first. I am much more bullish than most in view of the rate cuts and I expect another cut May 15th. One more point to keep in mind. Markets move further on the upside and the downside than most expect at any given time. The majority view is rarely correct. I hear a lot of doubletalk from analysts..."Expect more volatility", "We may have a bottom here", "We may retest the lows", "We may correct from higher highs" but I hear no conviction until after the fact. The one thing I like about BB is that he tries to anticipatory time with conviction.