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

To: Haim R. Branisteanu who wrote (14920)	3/11/1998 6:33:00 PM
From: William H Huebl	Respond to of 94695

Haim, I guess jes me with my one lone put. Wow! And I totally agree with you. The next sound you will hear is a resounding "POP!" Bill

To: Haim R. Branisteanu who wrote (14920)	3/11/1998 10:02:00 PM
From: kahunabear	Read Replies (3) \| Respond to of 94695

One of the toughest things about being a bear right now is feeling that I am right, and understand basics of what makes an extreme valuation. Knowing that the market's price to book should be somewhere around 1, instead of somewhere around 5 . Knowing that the market's PE ratio should be somewhere around 10, not 25. Knowing that a market PE of 25 says that the average stock is earning about 4% for its shareholders per year. At this rate you would think that stocks are safer than treasuries. Knowing that after this many years of expansion that a recession will occur one of these days. And the list goes on and on. But the most frustrating thing is knowing that most people making a killing in this market have no idea what a income statement or balance sheet is. I think David Tice is a CPA. I am pretty sure Ralph Acampora isn't. I take it back, the most frustrating thing about being a bear is wondering if this mania will take us over 10,000. WS