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To: The Perfect Hedge who wrote (15077)	3/17/1998 2:03:00 PM
From: Lucretius	Respond to of 95453

From Briefing.com General Commentary In today's optimistic climate everything negative is easily explained away... For example: Bad Earnings News: temporary setback... by late-1998, earnings growth will be back in the 12%-15% range. Excessive Valuations: Tech stocks expected to grow earnings at rate 2 to 3 times faster than the market over next five years so they deserve premium multiples. Asian Financial Crisis: Overstated... Last quarter numbers barely impacted... Cheaper component prices, lower operating costs offset demand slowdown... Asia's woes mean U.S. market/companies that much more attractive. Momentum is extremely bullish... But when the majority of investors are reading from the same book, it is time to find a new book... You might not pick the top, but by exercising prudence, and reducing your exposure to techs when everyone else can't get enough, you won't get burned when the tone turns... And it will turn, it always does. MY special note: Time for some green beer!!!!!!!!!!!!