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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (14279)	2/22/1998 5:34:00 PM
From: James F. Hopkins	Read Replies (2) \| Respond to of 94695

I guess you think they are boyscouts every one..they never tell a lie, or slant anything..they are more realiable than any scripture..to be trusted at all times..they have no agenda .. They are are ordainded and more honest than ministers, priests, or rabbis. Crap give me a break and go see if you can get a proctologist to examine your brains. I don't put compleat faith in any of them but Reuters, is way down on my scale. Saddam is not near smart enough to get away with the lies that pack of glorified parisites can feed to public. Why should I try to explain it to you, ? if you can't see something right in front of you, then your head is not on right to start with..if you like to feed on their garbage have at it, just don't try to feed it to me. Jim

To: Tommaso who wrote (14279)	2/22/1998 6:44:00 PM
From: paulmcg0	Read Replies (1) \| Respond to of 94695

While the staid, conservative British press like Reuters or the Financial Times newspaper in London have been discussing the possibility of a stock market crash, I've even seen it discussed in unexpected places. A couple of weeks ago, the rock & roll magazine Rolling Stone even ran an in-depth story about the market being overvalued. Since I like to use quotes from academic sources, here's a good one: "Once everyone comes to believe in and act on Always Hold Stocks, that tactic will self-destruct in the way that the Tokyo Equity bubble self-destructed after New Year's Day 1990... If you adhere to the dogma that stocks must beat bonds in the long-enough run, there is no P/E level that the market averages out to at which you will take in sail. A Ponzi bubble is ever possible, and given past psychologies of boom and bust, ever-higher P/E ratios become a self-fulfilling prophecy." That quote is from Nobel prize winning economist Paul Samuelson, and appears in "The Long-Term Case for Equities (and how it can be oversold)", and appears in the Journal of Portfolio Management (1994?). The paper is a devastating analysis of conventional stock investing foibles, including dollar cost averaging. It can also be found in The Investments Reader, 2nd edition, Robert Kolb, editor, Blackwell Publishers, 1995. Paul McGinnis