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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (11406)	12/13/1997 10:15:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 18056

Oh, that was the point. IF you can sell it for that price you make an obscene profit. But to make a profit you have to SELL, and sell at the right time. Now here in the valley they do it with real estate as well as stocks. Here in silly valley there's huge number of 3 bedroom 2 bath tract houses on the market for 500-800,000 dollars. Ya know what? The inventory seems to be increasing...the ponzi scheme ends somewhere. This is the puzzle, people buy on earnings growth and they're not looking at escalation of price-to-book. When the earnings growth stops it's a long ways to fall at price-to-book of 5 or 10 and declining profits. The Dow could possibly fall close to book value, around dow 2000.