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To: Jurgis Bekepuris who wrote (49615)	12/29/2001 2:50:40 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 54805

>> Maybe I should remember this episode when I get upset about G-gamers not using valuation. I'll make sure to remind you :-). Thanks for being one of the few value investors willing to make a point without preaching. It must have something to do with having a sense of humor. uf

To: Jurgis Bekepuris who wrote (49615)	12/29/2001 5:53:44 AM
From: Bruce Brown	Read Replies (1) \| Respond to of 54805

Did Joe Q. Investor learn anything in the last two years? As far as I see, the answer is "No". Yesterday, I had a co-worker come over to chat about stocks. He wanted a tip. I tried to gently persuade him that if he needs a tip, he should buy SPY - in the worst case with some QQQ intermingled - and forget about stocks. No, he is not interested in that. Actually he had tips for me. A couple of stratospherically valued tech stocks. His rationale? Not G&Ks, not PEs, not growth, not TA. Just plain old: "It is at 20 right now, it will go to 30, then I will sell." Why? He doesn't know. It's just a gut feeling partially based on the fact that the stock was at 50 before. Maybe I should remember this episode when I get upset about G-gamers not using valuation. At least G-gamers are selecting the companies using a good methodology. I just wonder if the current rally is on shaky legs. Jurgis - fully invested as always... Send your co-worker who wants to chat about stock tips to this index of essays for a balanced perspective: zealllc.com Rate Cut Scorecard Round Two 12.28.2001 Century of the Dow 12.21.2001 Inflation or Deflation? 12.14.2001 NASDAQ 1929 12.7.2001 Gold to the People Feedback 11.30.2001 Bear Market Rallies 11.23.2001 Gold to the People 11.16.2001 Greenspan’s Fine Mess 11.9.2001 Long Bond Assassinated! 11.2.2001 How Fare Thee DJIA? 10.26.2001 Roodepoort Rocket Fueling 10.19.2001 Mucho and John cannot disagree with anyone reading those essays. ;-) BB

To: Jurgis Bekepuris who wrote (49615)	12/29/2001 9:05:52 AM
From: Seeker of Truth	Respond to of 54805

As Uncle Frank says, we can learn something from almost everybody. In the case you cite where the chap wants to buy because the stock used to be much higher we can ask ourselves whether this kind of feeling ever enters our heads in a slight, perhaps well hidden, way. Your coworker's example is thus a nice negative lesson. As far as whether your coworker gives a signal about the market in 2002, the greatest investor of them all, Warren Buffett, says he is unable to predict the stock markets for a period as short as 12 months ahead.

To: Jurgis Bekepuris who wrote (49615)	12/29/2001 7:51:05 PM
From: BirdDog	Read Replies (1) \| Respond to of 54805

Did Joe Q. Investor learn anything in the last two years? Wouldn't it also be fair to admit that most of these "John Q Investors" actually have never even seen a double in their portfolio? Most just like to talk. They were and still are in Mutual Funds. Perhaps they daringly stuck their toe in the pool of stocks through great winners such as Nortel, or Enron? They also do not have the motivation or the attention span to bother to know anything but the most superficial investment facts? Then we all get to listen to all their great wisdom about Wall Street. While other "John Q's" are only interested in gambling on the Market. With the Market doing bad, they spend their time at the nearest Casino. Too bad, I need their money worse than the Casino's do. BirdDog