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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (56335)	6/7/2002 1:16:58 AM
From: puborectalis	Respond to of 208838

Casinos will always draw suckers...it's the natural way of things....psychology can and will change.

To: SOROS who wrote (56335)	6/7/2002 1:40:40 AM
From: Dave Gore	Read Replies (1) \| Respond to of 208838

Soros, I hear ya, but the more recent 1987 crash to below 2000 resulted in a 5-fold increase in not much more than a decade. I rarely go by history on things such as this. It's all different now anyway. The mere fact we had such an unjustified run-up in the 90's, followed by an equally strong meltdown in the face of relatively low interest rates and inflation makes this period in history totally unique. We may yet get a panic, but how long it will take to get back to Naz 2000 is a tough one. At some point, old technology will have to be replaced and important drugs will be approved by the FDA. That should help end this - whether it be later this year or during 2003. If the Market looks ahead 6-9 months, then we could be pretty close. As to Naz 5000, well, that's a whole other story. Valuation multiples are the key. The market may need to still punish stocks with high valuation. Not all stocks, however, are overpriced right now. Let the tape do the talkin' and react accordingly.