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STOCKTALK

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To: Dr. Jeff who wrote (100932)	5/9/2001 1:52:34 PM
From: benwood	Respond to of 436258

A good reason to own stock: Get yours before the inevitable buying panic <g>. Q: What do you become when you take Prozac and Viagra at the same time? A: A Wall Street Analyst.

To: Dr. Jeff who wrote (100932)	5/9/2001 1:53:30 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

interestingly, the views expressed here are what constitutes the MAJORITY view among fund managers. no-body's 'underweight' tech. the weightings have only decreased because prices have collapsed, but are nevertheless still WAY TOO HIGH in the aggregate. i refer everyone to contraryinvestor regarding this, since they track the numbers regularly. (unfortunately a subscription service now). the current psychology is typical at the onset of recessions - in spite of rapidly deteriorating fundamentals, nobody in the financial world wants to believe it. they simply can't conceive of a situation in which e.g. CSCO's business may not be great shakes for years to come. the mainstream economist consensus is now that there won't be a recession, not even a mild one! in a way it is touching to observe this blind faith in our money printing gaggle of bureaucrats, who are in reality only making sure that the corrective process will take a long time to play out, since the liquidation of excess capacity is postponed by their actions. as Galbraith put it so succinctly: "there's a lot more money sloshing about than there is intelligence to guide it".