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To: marginmike who wrote (103090)	8/21/2001 10:10:58 AM
From: Andrew N. Cothran	Respond to of 152472

Marginmike: Once upon a time in my investing life, I became a goldbug. I convinced myself that gold was the only true exchange mechanism and that it would supercede the dollar and all other currencies made by man given time. I gave it plenty of time. I even let it lure me into believing that the stock market was a scam and a sure way to lead one to the poorhouse. I watched gold go from $90 per ounce to $200 per ounce and then to more than $800 per ounce during the Carter years. I profited somewhat from the climb but not enough to justify the worry and consternation caused by the volatility. It took me a long time to learn the error of my ways. Once I got over being a goldbug, I learned how to invest wisely and well. I quit worrying about "the market" and concentrated my energies on looking for value in an otherwise valueless wilderness. I made many mistakes. I also made many wise purchases. Several of them were fortuitous: for instance, Waste Management just as it was putting its act together. I rode it up from the depths, using its zero cupon convertible as the vehicle; ALOG, I managed to find it when it was a penny stock trading on the bulletin boards. I also managed to stick with it as it climbed the heights. And latest, QCOM. I got aboard in late 1998 early 1999. I don't try to time the markets. I don't worry about the dollar. I don't try to outdo the momentum gurus. I merely look for value and when I find it, I try to be patient. I remember a slogan I heard during my days of doubt and pessimism. "GOLD, GOLD, You're making me old." Occasionally, I go back to look at the gold markets. But I have learned to merely look. I quit leaping when I started investing.

To: marginmike who wrote (103090)	8/21/2001 1:18:35 PM
From: Jon Koplik	Respond to of 152472

Off topic -- "dash," "pinch," and "smidgen" finally quantified ! I received the latest Walter Drake catalog in today's mail. (For the un-initiated -- Walter Drake sells a lot of weird kitchen utensil type things that you never knew even existed ...) According to the description of "The Handiest Little Measuring Spoons" (item # 12808) : 1 dash = 1/8 teaspoon 1 pinch = 1/16 teaspoon 1 smidgen = 1/32 teaspoon (And -- someone has actually manufactured measuring spoons that dispense these amounts !) Jon.

To: marginmike who wrote (103090)	8/21/2001 6:19:18 PM
From: limtex	Respond to of 152472

mm -My guess is that the FED comments were designed to scare the ECB and the Europeans into action. If Rubin was in the Treasury today he would have been in Europe months ago and he and Clinton would have got the Europeans to act. You can't really do that from Crawford TX and the current Treasury Secretary doesn't inspire me with any confidence whatsoever. Nice guy but he just gives me the impression that he hasn't got the faintest idea what to do and doesn't even know that there is a problem. I think Greenspan is probably quite isolated and he really needs the Europeans and has probably been talking to Duisenberg but got nowhere. There are Federal elections in Germany next year and the Government will not want to run any risks with the economy and the budget. Also not everyone in Germany is wholly in favor of giving up the DM and handing control of the economy over to a Dutchman or even worse a Frenchman. They will be moaning like hell as Duisenberg sits on his hands and does nothing and German industry goes the same way as US industry. There is a difference though between running a 1929 scenario in the US and doing the same thing in Germany. If you think that they couldn't start all over again if the economy goes into the tank as it is here or worse then you are mistaken. Many Germans are today scared stiff of what will happen when their economy goes into recession. All this will play on the minds of the German Govt and they will no doubt remind Mr Duisenberg exactly who is boss in Europe and who pays the bills. That is what Mr Greenspan did this afternoon with that very scary statement in my view. Best regards, L posted to JW on the Vol thread