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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (13376)	5/7/2004 1:20:18 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

i am not bearish, i am perky. but then again, i walked away from PMs last November. working my way gradually back in, and expecting a few mosquito bites along the way. it is but a flesh wound! that is the difference in perspective of one who has been away from these stocks, and sees the 30% fall as an opportunity and the 0.5% mosquito bite (5% further drop on 10% portfolio allocation) as a flesh wound; vs. all the capitulators who have had unfortunately larger drawdowns. i think they are speaking from the pain of their drawdowns more than the reality of the outlooks. like Buffett said (and i paraphrase), stocks are the only market where people are compelled to buy high and sell low. what i will say is that nobody seems to look at these things objectively; it's all based on one's history and current position vis-a-vis the stocks. but objectivity wins in the end. maybe there's 30% more downside, which on a 10% allocation is a 3% flesh wound; more a dog bite than a mosquito bite. i will just treat that as more opportunity after applying bandages.