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

To: Moominoid who wrote (20293)	6/26/2002 6:26:42 AM
From: Raymond Duray	Read Replies (1) \| Respond to of 74559

Buffett is very much in the market for electric utility assets. They've been in the bargain bin for some months now. However, the industry is a stinker at the moment. By historical standards, the equity markets are still overvalued by a factor of 2. Earnings suck, dividends are just about a faded memory. The only justification to buy stocks "that they go up" isn't going to be sold to new fools until our elementary school kids get their first raises in 15 years. Damn dreary now. I've never seen CNBC be so down at the mouth. This is closer to reality than they usually get. So things must really suck. Even the cheerleader types are saying "we got to get the crooks and the clowns out of the system".