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

To: Bonnie Bear who wrote (13660)	1/31/1998 12:39:00 AM
From: Simon	Read Replies (2) \| Respond to of 18056

<<The pension plan money keeps rolling in.>>> But does it go into the bond market? 6% seems a lot safer at the moment that 20,000 shares of some tech stock that might get run through an Army barber shop.

To: Bonnie Bear who wrote (13660)	2/1/1998 10:50:00 AM
From: edward miller	Read Replies (3) \| Respond to of 18056

I've been thinking for over two years now that something different could be driving the market, and I still think this is it. >> I think this market does have more liquidity than the Pacific. >> The pension plan money keeps rolling in. I've heard all the arguments that retirement investment is the same as it's always been because companies used to invest their employees' retirement funds in the market - but their investment strategy was conservative, so they bought bonds and real estate as well as stocks. I think that now we have an entirely different situation with people who have to do their own retirement savings. They look around at the returns and don't know how to market factor risks and the dynamics of changing risks. Guess what !!, they all decide that stocks are THE INVESTMENT FOR RETIREMENT. I wrote some long posts long ago on another thread, either "Ask Michael Burke" or "Micron Only", but I don't think anyone really believed that my scenario makes sense. As the bull continues, I am more convinced that the following applies: Throw away all reasonable metrics for valuation until the boomers start pulling out big sums from the market. Comments anyone? Ed Miller