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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (47416)	10/2/2001 10:55:40 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 54805

That's a wonderful message from Lynch, Scott. Thanks for bringing it to us. uf

To: stockman_scott who wrote (47416)	10/3/2001 1:23:02 PM
From: RobertHChaney	Read Replies (4) \| Respond to of 54805

I would view these types of articles and interviews with a bit of skepticism because of conflicts. Peter Lynch and Warren Buffett are two of my all-time, all-time heroes. So, I carefully read the Lynch article when it came out in Sunday's paper. However, I realized Lynch is obviously conflicted when he writes these type of articles, because he is Vice Chairman of Fidelity. I think this is really a Fidelity article, because clearly it is that company's goal to keep people calm and remain invested in mutual funds, especially their mutual funds I would guess! Expecting someone in his position to say anything really scary, would be like expecting investment banks to issue sell recommendations on their best corporate finance clients - NOT LIKELY. Appropriately, the article looks unbalanced to me. It talks of a glorious future assured by history (I seriously believe in this idea). But, he does not thoroughly discuss how bad this could get, based on a similar historical analysis. When he says "I can't tell you if we will go into a recession or not", it lacks objectivity. WE ARE IN A RECESSION. Warren Buffett made a similar "feel good" appearance on one of the talk shows a few days after 9/11. I think he rightfully did it for patriotic reasons, answering requests to help stabilize the financial markets. He is now playing the role J.P. Morgan used to play long ago. But, Berkshire Hathaway is also "big time" long in the stock market. He is being totally honest when he assured everyone that he would not be selling. But then again, he rarely does so for any purpose, and when he does, it is usually when everyone else is buying. So, no real surprise here. I thought the only really useful thing he said during the entire interview was (and I will have to paraphrase) "We may even be a buyer if things "GET CHEAP ENOUGH". Now that tells me something important and useful. The recent bull market has seriously reinforced to me the need to carefully look for conflicts, and realistically assess the objectivity of ANY writer or speaker. Robert