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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: EPS who wrote (21450)	3/28/1998 1:09:00 PM
From: dwight vickers	Respond to of 42771

(OFF TOPIC) Victor, Gotcha. "Inflation" in financial assets will no doubt affect the price of other real assets/products. I suspect that is showing up in slowing profits. The problem with rising stock prices in a falling profit/over capacity market is the logic. It's a house built on a foundation of sand. Stocks rise and fall with profits. The game being played where it's ok to report lower profits as long as you meet "expectations" is ludicrous. Can you imagine how far that argument can be taken? Would it be ok to report massive losses and file bankruptcy as long as the investment community "expects" it. Commodities have gotten cheap. My gold and silver stocks have been performing well. The jury is still out as to whether or not I'm early. I usually plan to be. The "Phillips Curve" comparing inflation and unemployment has been totally refuted. In my opinion it never made sense. This country was built on fast growth and low unemployment. Inflation was virtually never a problem besides the Civil War experience and the inflation of the 1970's and 1980's. Too many economists like to fashion their models ignoring pre-WWII history. That worked great until the current cycle began to follow more deflationary models. It was very shortsighted and simplistic thinking. I know what you're saying about a possible "new paradigm", "best of all worlds", etc. I also understand the baby boomer argument, which I find especially implausible. We're left with not knowing what will happen or when it will begin. But I will fearlessly predict that there is no such thing as "new investment environments". Just investors who forget, or never learned, old lessons. These thoughts are all just IMHO naturally. Only time will tell if the worriers are prescient or doofuses. Good luck, Dwight