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To: D.B. Cooper who wrote (8683)	8/11/2002 1:53:34 AM
From: pbull	Respond to of 13815

I'm convinced that timing is everything. This market, love it or hate it, is more transparent than it used to be. It goes to extremes. Then, when they trot out the president, or Greenspan makes a pronouncement, or whatever, you know there's a change in trend. Makes it easier for all of us. I spent most of the early evening at the bookstore, and from the looks of most of the financial rags, they're declaring the end of capitalism and society as we know it. So that's a positive. Money magazine is the worst. They must have a copy deadline that's like 3 months prior to publication. By the time it's out, it's worthless. This reminds me so much of 1974 (am I dating myself?). Too many people are absolutely convinced that the market will never come back, that no one will ever make a dime being long in the market ever again. 1987? Remember it well. Sam Walton lost something like 8 billion dollars, and his reaction was, "It's only on paper." During the '90s, WMT was ignored for years. Frustrated the h*ll out of brokers around here, who kept reco'ing it to no avail. Fred Alger is back. What a tragic story. The whole Alger team was lost in the 9/11 attack, so Fred came back from Switzerland to run their funds. It's all just so surreal, so difficult sometimes to grasp what happened. Here's this white-haired guy, who made a fortune in the 1960's, returning to comb the wreckage of this market. They're buying health care (drugs) and financial services. I am not going to argue with Fred Alger. PB

To: D.B. Cooper who wrote (8683)	8/11/2002 10:39:30 PM
From: pbull	Read Replies (1) \| Respond to of 13815

It just floors me, looking around, how many entire industries are going to go broke as a result of deregulation and globalization. Ordinarily, the less competitive ones go under during a recession, but this time the banks are just going to pull the plug on their lines of credit. Many complain about the Fed manipulating this market, but the alternative, it seems to be, would be a global depression. And so we play along.... PB