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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (21653)	7/15/1998 1:55:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 94695

I've been riding BSC, it's still undervalued. Since it was recently added to the S&P it has room to move up. Something odd about the market: smallcaps haven't moved, and relative to bond yield they're less expensive than last year at this time and maybe 40% undervalued relative to the S&P. Ditto with REITs, adjusted for interest rates they're at 1985 valuations- book value, growing at 15% with 7% dividends. And south america is back at 1992. I found a fund that only buys the 50 largest global market-cap stocks, at a global level the money supply is about where it was last year at this time. So the liquidity argument voiced elsewhere on the thread is garbage, it just doesn't hold up. There's lots of room for redistribution of money. MER seems to be a good choice if you want to ride the bull to the end and get off before she falls.