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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: dennisp who wrote (4257)	12/9/1997 9:13:00 PM
From: LastShadow	Read Replies (2) \| Respond to of 120523

The Well-Informed Trader: I probably have some narcissistic desire to write a column titled something like that. A place to put tidbits of marginally useful information about Pre-Holiday Effects, chart patterns, finance software, etc. Be that as it may, I really just wanted to share with you all some of my reading that I have finally started to catch up on. Alan Greenspan wrote an 18 page academic treatise on the challenge of central banking in a democratic society. Buried on page 14 of that document he posed the following question: "How do we know when irrational exuberance has unduly escalated asset values...and how do we factor that assessment into monetary policy? We have no way of accurately determining if an economy is on an unsustainable track." Somehow some brokerages, fund managers and the print/media journalists turned that into a statement that he felt there was "irrational exuberance in the stock market in an economy thats on an unsustainable track..." I'm posting this as a couple of threaders emailed me about something that was said in CNN/fn, and later wanted to know why I didn't follow their news. I guess I'll download my data now and go work on the Watch List. lastshadow