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To: ajtj99 who wrote (7824)	2/12/2003 10:44:46 PM
From: Win-Lose-Draw	Respond to of 10157

i'm not sure buffet is going to live long enough to utter those words. -g/ng-

To: ajtj99 who wrote (7824)	2/13/2003 12:00:45 AM
From: KevinThompson	Respond to of 10157

Your points are well taken. I don't disagree with you. As I stated, we agree that there are plenty of genuine economic reasons for the equities markets to continue to "unwind" from this bubble. I don't expect any sustainable price improvement until we've met that end. I really like your point about this "endless circle of hope" that needs to be crushed before we do get to that end. And true, the sooner people deal with reality, the better off they'll be. (The better off we'll all be.) My only issue was it seemed that you were discounting the effect (albeit short-term) of heightened concern and anxiety due to the threat of war, and how that effects market sentiment. Also, I personally would still feel compassion for people that continue to lose retirement and assets in this cycle. Many are not savvy with ideas of what to do. They are trapped. And as you point out, possibly by their own endless circle of hope. I still feel sorry for them, but you can't help everyone. Best Regards, KT

To: ajtj99 who wrote (7824)	2/13/2003 1:15:07 AM
From: velociraptor_	Read Replies (5) \| Respond to of 10157

<The truth is, the market is down because we're unwinding a once in 72-year bubble.> Spot on. What is even better is to tun the cause and effect around. In other words, what if the grim situations around the world are the result of the decline and not the other way around. This is a global event essentially with the have's and the have not's with the US being the primary one to "have". Natural greed would want us to protect the gains at all costs so we become more agressive. Not only that but the emotional aspect of losing gains perhaps turns us more defensive. Think about it...for the first time in history, the US is about the become a first strike nation. I think it's easy to see the news as being caused by the outcome of the natural cycles in the market rather than the decline being caused by the news. It easily works both ways depeding on which way you look at it. The psychological aspect of finance around the world over time is a truly fascinating study.