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To: Marc A. Bttcher who wrote (49901)3/6/1998 1:13:00 PM
From: Joe Sabatini  Respond to of 186894
 
Nick Moore is a flaming moron. Just because billions continue to flow into mutual funds every week, it doesn't mean that stocks are fairly valued. The money has no place else to go, so stocks go up. There is no attachment to earnings anymore. In the old school, this would be called a suckers rally. It's a good thing for most investors (who know nothing about valuing companies or the market) that they are creating their own self-fulfilling prophecy. Otherwise, this pathetic cushion of high-flying expectation we're riding on would be ripe for a nice crash.

Joe S.