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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: unclewest who wrote (902)	5/11/2003 9:15:26 PM
From: Condor	Respond to of 794144

Thanks for the explanation. I differentiate the economic downturn as reflected in blue chip markets in the last couple of years from that of the Nasdaq techno/i-nut bubble burst. I blame the Nas bubble burst on no one but we insane investors who managed to convince ourselves that the lack of prospects for earnings weren't important under the new paradymes :o( and that companies with billions in market cap could support negative P/E's forever. This was our doing as a result of (yup!) irrational exuberance and IMO not a leadership issue. The broad economic decline that brought the blue chips down could be attributed to issues of leadership or lack thereof in the prevention of or soft landing. I do agree that the markets react to anticipations for 6 months out. In a nut shell, I agree with your assessment re: the responsible leader and lag time but differ that the major techno burst could be considered and treated as just more of the general economic decline. BTW, during the Bubble, I recall one poster asking when earnings would be out on a particular active and frothy tech company. Of course he was asking when the next Q reports were expected. A poster of wit immediately responded "In 2016". I thought that was hilarious and that it appropriately summed up the whole situation. <g>