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To: MythMan who wrote (184854)	7/30/2002 10:40:15 PM
From: reaper	Read Replies (8) \| Respond to of 436258

<<you are such a downer>> Myth, seriously, is that fair? No more than 6-ish months ago i was stating on this board that i really didn't believe in TL & EV, that i thought there would be a recession but it wouldn't really be that bad (it would SEEM bad to over-indulged moron boomers but in any kind of reasonable analysis it wouldn't actually BE that bad), and i was at the margin BUYING some stocks (like Papa Johns, QLTI, Cintas, G&K Services, Outback Steakhouse); someone even at one point suggested i start a CFZ small-cap value thread (now how funny is THAT in retrospect). i have become a more serious bear as the credit markets have started to come undone and as corporate behaviour is turning out to be even worse than my worst fears. look, what i have to say is not particularly upbeat, but the fact is that i don't show up here with platitudes (bull or bear) like "ho ho ho, the market is so hosed 'cause skirt lengths are so short" or "there isn't a bubble 'cause the price of x always goes up historically". most everything i post here is based on a lifetime of experience in the financial business, a very detailed understanding of accounting (i am sorry to say i have most everything ever published by FASB sitting here on my desk), and is backed up with cash flow and credit analysis and historical data & perspective. yeah, maybe i've gotten a little more aggressive and down-beat in my language recently, but its mostly because i am PISSED. regular people are being robbed of their future by Wall Street and their minions, they are too blind to see it, and the people that are supposed to protect them, the media, the regulators and the Feds, are either complicit in the whole mess or too farking stupid (43 and Magoo) to utter 16 consecutive coherent words. anyway, don't shoot the messenger. i'm just sitting here quietly at home mashing away at my keyboard and feeding my daughter while corporate America and Wall Street fleece the American populace of what little money they have left, and Greenspan and Time Magazine sit idly by letting it happen. I'M a 'downer' because Time Magazine sees fit to identify their expert on housing values not being a bubble as just an 'economist' and not as the author of Dow 36k, the all-time wrong-headed investment book, and I point that out? C'mon! i am not RESPONSIBLE for any of this; the 'downers' are guys like Jacque Nasser and Carly and Komansky and Pitt who brought you the friggin' mess we're in; i'm just chronicalling it for future generations. (oh, btw, just so this note doesn't end without some sort of taunt, do you know what percentage of Budget's fleet are Fords, and what is your opinion of the collateral damage that Ford will suffer from Budget's bankruptcy this week?) Cheers