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To: Alias Shrugged who wrote (163789)5/3/2002 8:56:30 PM
From: Joan Osland Graffius  Respond to of 436258
 
Mike, >>I think alot of bulls still don't realize that things could get as irrationally negative as they were irrationally bullish

Clearly evaluations of a lot of these stocks are still in the stratosphere. IMO, during the 90's a fair number of companies balance sheets have deteriorated as they fueled their growth with debt. If one looks at stock holder equity it is clear the stock holder has been raped. The press is starting to get this message to the public and when the truth sinks in it will be all over.

My universe is not very large, but folks I know have not given up on equities or at least their money managers have been getting them out of techs and into small caps and corporate bonds, you know the stuff that has been working for the last couple of years. If they create a bubble in this group and it comes crashing down - maybe we will get a bottom. Wonder how long this will take.

The other problem is the US$ - as foreigners will be bailing if it loses it's value against their currencies.

Joan