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

To: paulmcg0 who wrote (14288)	2/22/1998 6:56:00 PM
From: Tommaso	Respond to of 94695

Paul, As I remember, Samuelson got burned back in the 1970s by being cited as a person who had said that any sane person would hold some common stocks as a hedge against inflation. Of course when he wrote that he did not anticipate the Vietnam War and the high monetary growth rates that accompanied it. He must be somewhat embarrassed at this point by what he wrote in 1994, although I would have agreed with him so I guess I have to be embarrassed, too. But if there was any truth in it then, it must apply with far greater force now. I am looking forward to checking out the Rolling Stone story. Next thing Art Digest will get in on the act! By the way, your analogy of the liquid nitrogen evaporating on a flat surface as a metaphor of values disappearing in a crash is brilliant. Almost as good as Robert Frost describing a poem as being like a piece of ice on a hot (wood) stove, "riding on its own melting."