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To: ild who wrote (134106)	11/12/2001 3:38:26 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 436258

ild, Gotta love the lip service to valuations. <g>

To: ild who wrote (134106)	11/12/2001 3:44:03 PM
From: Lucretius	Respond to of 436258

perfect... LOL

To: ild who wrote (134106)	11/12/2001 4:36:55 PM
From: SOROS	Read Replies (3) \| Respond to of 436258

"Valuations will probably prevent us from seeing a rip-roaring, deluxe bull market," Bonnel said. -- SOROS Note: Here's a real genius. "If we didn't just see the bottom, then I think we're within a few months of it," he said. "If you buy now, the worst may be that you're a little early and you lose 10% or so. That's no fun, but you'll probably have the nerve to hang on for the long haul." -- SOROS Note: Unless of course everything doesn't go EXACTLY perfect and according to plan and you lose another 10%, and another, etc. Wall Street's strong advance of the last seven weeks is convincing more investment pros that the market has seen its worst. -- SOROS Note: Yes, these are REAL professionals. Like the WWF. Though risks remain, the resilience of stocks' rally since Sept. 21 is fostering more talk that the 18-month-long bear market has ended, and that share prices won't revisit their lows. -- SOROS Note: Yes, that is typical. Every 15-20 year Bull market is followed by an 18-month Bear, and then another 15-20 year Bull. Party on. Most money managers don't expect anything like a return of the roaring bull market that collapsed in the spring of 2000. -- SOROS Note: I guess these managers haven't checked CURRENT valuations for comparison to the "roaring bull market". With 10 rate cuts so far this year, the Federal Reserve "has made it so that money is basically free" for many borrowers, said Art Bonnel, manager of the Bonnel Growth fund. - SOROS Note: Ah, yes, free money. The panacea of all time. "Companies can borrow and make acquisitions . . ." -- SOROS Note: It's a good thing these companies have such pristine balance sheets, and they don't owe anyone anything right now. . . . a couple can refinance their house and use the money they're saving to buy a sofa or something else for the house," he said. -- SOROS Note: It's also fotunate that the American consumer is in such sound financial condition with zero debt and bankruptcies are at such low levels so they can borrow more money with no worries. They certainly should have no hesitation about losing their jobs right now. "That helps the economy, and so does all this wartime spending by the government." -- SOROS Note: I'm so glad we have that surplus! Meanwhile, extremely low yields on money market mutual funds and other short-term accounts are making many investors more willing to accept the risk that comes with stocks, said Ron Ognar, manager of the Strong Growth fund. -- SOROS Note: Risk in stocks? Get out of here. * Easing of terrorism fears. Though concern about new attacks isn't likely to fade soon, "The longer things go on since Sept. 11, the more normal life becomes," Bonnel said. -- SOROS Note: And in this case, "normal" is a prosperous and worry-free wealth-producing stock market, guaranteed. . . .University of Michigan survey released Friday showed an unexpected rise in U.S. consumer confidence, Ognar said. -- SOROS Note: What's the surprise? What's to worry about? But the stock market typically looks ahead, and that is the biggest reason for the rally since Sept. 21, many analysts say. The stock market is foretelling an economic recovery next year, and with it a turnaround in depressed corporate earnings. -- SOROS Note: "This ship CAN'T sink! Earnings will return like a ship through melted ice." Companies whose profits have sunk this year will face easy year-over-year earnings comparisons in 2002, said Fritz Reynolds, manager of Reynolds Blue Chip Growth fund. -- SOROS Note: Especially when companies (like CIENA) can lower those estimates SEVERAL times and no one notices.