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To: long-gone who wrote (13626)	6/22/1998 10:45:00 AM
From: John Lacelle	Read Replies (2) \| Respond to of 116871

Responding to Richard, Yea, that PBS depression series is really good at making one think. It is strange to think that by 1940 1/2 of all Americans were living in poverty. One million men became "hobos", and just rode trains around the country in search of work. The impact of those times was deep in my family. I still remember the way my grandfather would look at me when I wasted food. Yet my grandfather did pretty well in New York City during the depression due to his chain of hairstyling salons he owne. He told me that he would take a pocket of dimes out to central park where tens of thousands lived in boxes and shacks, and hand them out because in those days, ten cents could buy you a meal. He lost his ass twice in the market...once to the 1929 crash, and the second time due to a fraudulent oil company. Sorry about the off topic spin there. I think the 1990s have been good due to a number of things, mainly the com- puter industry bringing in billons, the Baby Boomers stuffing money into 401(k) plans, plenty of easy credit available, no wars, cheap oil, and a well run Fed- eral Reserve Board (thanks Greenspan!). However, I, like Greenspan, think the problems in Asia will beat the market good. Keep plenty in cash, hold some put options to protect gains, be frugal, and watch out for the bear. Thats what I say! -John