To: Gary Walker who wrote (11385 ) 6/11/1998 6:00:00 PM From: Maurice Winn Read Replies (3) | Respond to of 152472
Gregg, a bit more on the elevator not being at the penthouse. In the New Zealand Herald, Alan Greenspan was reported thus: ------------------------------------------------------------ ...says United States economic growth will probably slow, and inflation is likely to remain tame, a combination that suggests the Fed will not raise interest rates in the months ahead. "The effects of the crisis in Asia will almost certainly damp net exports further, potentially moderating the growth of domestic production, and hence employment," Mr Greenspan told the joint economic committee of Congress. The recent performance "is as impressive as any I have witnessed in my near half-century of daily observation of the American ecnonomy," Mr Greenspan said. He could not say why the economy continued to amaze. "This set of circumstances is not what historic relationships would have led us to expect". ------------------------------------------------------------ Now, does that not translate into "new paradigm"? Soon it will be conventional wisdom that there is a new paradigm, though as always, these things take longer than I think, so I'll stick with Dow16000 Feb2002. But sooner or later, when it is conventional wisdom, it will be Tulip-Time again. You'll find me on the sidelines. Or in another unoccupied cave. Mqurice [Hi Gary, still snooping around Qualcomm eh! Qualcomm's Buffetburgers are cheap again with another arbitrage opportunity presented by reaction to the news today - cleared up by Gregg, thanks. You'll have to bear with us a bit Gregg - we can't all have a chat with Dick and Julie though your points on the details of the news item were correct. As Gregg might say, the dichotomy between the internal reality and external perception just widened some more. Be happy Gregg and take the added value arbitrage opportunity by loading up some more Qualcomm. If you are lucky, the gap will continue to widen.]