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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (6326)	6/26/2002 7:19:34 AM
From: Enigma	Respond to of 33421

John - thanks for your response and thanks to you Ray for yours. Baker's bright all right, but there are a lot of bright idealogues. It depends where you are coming from. I'm concerned by the lack of background of GWB - his parochialism, his apparent desire to have America be isolationist and interventionalist at the same time. I look at that face and see a void - a puzzled look, and increaasingly a petulant look - this is the image that seems to be carrying the day in the media increasingly. It's a curious form of editorialism, this choice of image. After 9/11 they seemed to choose pictures which indicated determination, the jutting jaw etc. Now the images are changing. I agree with Ray about the scandals which are now being uncovered. This is about the broad range of corporate corruption in which even the big 7 accounting firms are complicit. And it extends all the way to excessive executive compensation which should create a revolution but won't. What justification is there for increases of hundreds of percent over the last decade or so - when workers wages have languished? Productivity gains? The pigs have been at the trough for too long. One can't lay all of this at the front door of GWB, but he is a product of the culture. John - I like JP better I think! Pitera I mean.

To: John Pitera who wrote (6326)	6/26/2002 7:26:21 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Speaking of chasing MoMo Stocks and Value stocks back in 1999. Mike and I had open talks a year about value stocks with strong free cash flow all year long on the John,Mike and Tom's Wild World of Stocks thread and also on The Naked Truth of Peter M -- Big Kahuna a Myth? (which was the predecessor thread to the wildly popular and now in vogue Clown-free Zone. And you know what. In 1999 and early 2000 the bulls did not want to talk about value stocks, the bears were shorting and buying puts on everything in site and it seemed like it was the two of us, Bill Nygren, The Davis group and a hand full of others who were the only ones interested..... go figure. John

To: John Pitera who wrote (6326)	6/26/2002 8:42:01 PM
From: Raymond Duray	Read Replies (3) \| Respond to of 33421

John, Re: But it was those crazy bubblionians who were chasing MoMo stocks to the exclusion of prudent investments also in Bonds and my everlasting beloved value stocks that enabled that mania. I'm saddened to see that you are in the camp that prefers to blame the victim rather than honestly examine the perpetrator. Those crazy bubblionians were being seduced by a vastly corrupt and criminal minded elite who stopped at almost nothing to fraudulently seduce the unwary. Just look at what the PSLRA of 1995 has wrought. A culture where criminals who've fleeced billions from the public can walk free because they can hide behind legalistic constructs that violate every moral and ethical code of conduct. And what of the outrageous abuses of the CEO imperialists. Ebber, Winnick, Rigas, Waksal etc., etc. all of them raping their employees and shareholders for the sake of greed. I strongly protest your characterization of who is responsible for the meltdown of the American capital markets. It is the crooks in charge who need to exposed, ridiculed, imprisoned and finally tossed aside by a decent society. All the best, Ray