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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (20137)	6/21/2002 11:12:28 PM
From: EL KABONG!!!	Read Replies (2) \| Respond to of 74559

Hi Jay, Well, to boil the article down to just a few words, he simply said that bad news begets more bad news, so let's all be positive. <After me now, everyone... Kumbaya... Kumbaya... Kumbaya... A little louder, please...> I call this spin, "talking up the market". If we ignore the negatives (valuations, for example) and concentrate on the positives (profit gains, meeting numbers), then things will sound better, and people will be in a better mood to buy again. Unfortunately, he has chosen to neglect to mention that most of the gains in productivity, earnings and meeting Wall Street expectations has come at the expense of jobs/employment and the future productivity of those unfortunate people who now find themselves unemployed. Business continues to sell out its future in favor of what's happenin' now or meeting Wall Street's short term views (more on that)... (I have always reasoned that unemployed people are not likely to be big spenders of discretionary income, but perhaps I have had misguided thoughts all these years, and unemployed people are actually good for the economy and good for the equities markets. I could be wrong. Either way...) <g> Did anyone ever notice that Wall Street has traders, but no group that identifies itself as a long term investor? Is it any wonder then that Wall Street types see no further than the next quarter, or tomorrow's charts? As long as corporations continue to play the Wall Street short term trading game, and company stock price growth exists only as long as the next favorable quarterly report, and Wall Street brokerages continue to trade for short term profits, we (the little guys) are going to be caught in the middle. Corporations need many more Warren Buffet types in the executive ranks, in the hopes that some of them will have the courage to tell the Wall Street traders to go f* themselves, and then the executives can return to the business of running the company instead of worrying about the price of the stock or what some s*-for-brains analyst might be thinking... Too many conflicts of interest for me to be interested in buying any stocks any time soon... Oh, and did I mention valuations? <g> KJC

To: TobagoJack who wrote (20137)	6/21/2002 11:15:13 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hi Jay, your mom just e-mailed you this message "... My dearest, I must tell you I am glad that you have taken over my stock account. The market doesn't give me as much headache as before. It's a real free fall now. Love, Mom" Can any son ask for more :0) Chugs, Jay P.S. I had tripled my mom's account, and her sister and her managed to drop the ball by 50% from peak, before I stablized by selling off all tech, retaining what makes her feel comfortable (drugs, insurance, beverages, etc, the usual junk) and fortifying with, you know, the Aztec metals. I give myself a pat on the back, and off to swim now. The day seems so much brighter now.