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To: limtex who wrote (9538)	4/1/1998 8:37:00 AM
From: Sawtooth	Read Replies (2) \| Respond to of 152472

L: <<This sounds like last year when Mr Greenspan sent the market into a tailspin by talking about "irrational exhuberance">> Interestingly, Mr. G. was referring to the Japanese markets when he made this statement, shortly before the banking/brokerage meltdown started over there. The "i. r." phrase got cut-and-pasted by the press and misinterpreted as applying to the US stock markets. (Source: synopsis of Mr. G's presentation with comments; Bloomberg Magazine - around the new year, sometime. I believe this was pointed out in the article by none other than Ms. Cohen, herself.) ...Tim

To: limtex who wrote (9538)	4/1/1998 10:27:00 PM
From: qdog	Read Replies (1) \| Respond to of 152472

I see, we have valued stocks based on what? I'm an old timer having bot my first stock in 1970. Let see, we were in Viet Nam and we had the last great bull market and the Nifty Fifty. Yet what happen three years later..... can you say BEAR market??? Foolishly valuing stocks at unrealisitc levels is smart investing?? Gee can you say Presstek or Netscape?? How about Iomega?? As to war in the world, read about Colombia or Africa?? Hmm, Yemen probably will bang it out again this year. Unless Peter Arnet is there, it ain't a war?? The world in great shape, well that remains to be seen. If you think MSFT is worth $220 billion to buy then buy the whole company, buy it outright. It isn't worth $60 billion in my opinion. Limited assets and nothing but intellectual brainpower that will become lethargic and swelled head with age, if it ain't already. Inflation?? What about AT&T and MSN raising price of Internet access? How about AOL's raise? You think all these newspapers will remain free for ever?? You cite oil as the guage for inflation, but that is but one component. Medical, food, computers, but the INternet is shifting from FREE to cost. How do guage that inflation?? But you go on beleiving that stocks and markets climb up and up. Go on beleiving that there is a new paradigm in investing and that historic returns are 45% per year. I'm an oldtimer but Japan fell like a brick and still struggling to recover. The Yen was the currency and now it is the dollar. Companies profits come under more pressure with the strengthening dollar. Profits is what it is all about, right? When profits are only growing 10%, is a PE of 54 a reason to buy stock? Your money, your opinion; do it your way. My money, my opinion and its done my way.