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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (27955)	5/7/1998 12:34:00 PM
From: geewiz	Read Replies (1) \| Respond to of 132070

Hi Mike, Las Vegas is overbuilt, but look over the valley and buy on the dips! Ladenburg Thalman lowered its 1998 earnings per share estimate for Mirage Resorts (NYSE:MIR - news) after the hotel/casino owner and operator posted lower than expected first quarter earnings per share of $0.22 versus $0.30 on 4.2% lower gross revenues. Analyst Andrew Zarnett told S&P that the company is experiencing a decline in volume in its high-end baccarat business, and noted that the Asian crisis is clearly affecting MIR. Nevertheless, he continues to rate the stock a long-term buy. Word on the Street brings you comments every trading day from Wall Street's top equity analysts on stocks or industries that are moving significantly. no hope for the May 20's!!! This whole quarter has been a wrenching experience for anyone who bought puts based on fundamental news. With another endorsement of the economy from Greeny in a few hours we will be off to the races again. Before the October sell-off you said "never underestimate the bulls persuasion to pull the market back"... but I never expected the liquidity that has come with these low rates. It may be another six months before the market reflects the economy. I would be less impatient with my miscalculations if I could perceive a plan to the chairman's touting the market. Not only has his tune changed from being a skeptic to being an endorser, but he practices questionable statistics to make this case. Productivity is a broad concept, far less accurate than GDP. Yet he mines statistical data for results showing evidence of productivity gains and bases his assesment of the market valuation on such. The reality is there are greater concerns such as the liquidity of Asia that formulate his actions. How will Bob and Alan plan to balance the value of equity assets with real assets? Or do they even have a plan? and at what point will they let that happen without making a press release about the strong economy every time the market starts to correct. Listening to Bob (Rubin) last week I'd have thought he was working for Solly or Goldmann! best, art