To: Knighty Tin who wrote (287951 ) 5/22/2004 4:42:38 PM From: Knighty Tin Read Replies (2) | Respond to Barron's mini review: 1. Abelson is both less funny and less poignant than usual. His opening piece is about Bob Woodward. Uh, Alan, journalists are only heroes to other journalists. To the rest of us, they are like the trash collectors. We appreciate what they do for us and the good ones are MUCH better than the bad ones, but we don't like reading about them. The second piece is about a lecturer at The Wharton School, where the finest minds in America go to study how to get a high paying job. <G> This guy counted how many times Greenscam visited George Dumbya and how this has helped feed our current economic disaster about to happen. You know, we had to publish on more interesting subjects when I was there. My major study is on why the plywood market didn't make it as a futures market. I can't remember my conclusion 25 years after the fact, but it was brilliant. <G> He thinks the administration's Iraq strategy isn't perfect. But the best part of the column is the sorting out of valuations for aggressive growth funds. Some of the assumptions are stupid, such as using Fidelity as a proxy for the entire industry. It's not like these guys are in collusion or anything. Wait a second, trying to say that with a straight face tightened my cheeks like a shot of botox. Anyway, the Top Ten stocks in the Fido Aggrieved Growth comes out at an average PE ratio of 900 times. (he counts the 3 stocks without earnings at 200 times) Somehow, this nimno is trying to use such mundane valuations to say that the market could be frothy here. Ha, what a joick!
