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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (6124)	7/21/1998 1:05:00 PM
From: Investor2	Respond to of 42834

Greenspan sees no policy change Fed chief says inflation still greater risk than Asia; says stock prices could be 'difficult to sustain' cbs.marketwatch.com Best wishes, I2

To: Kirk © who wrote (6124)	7/21/1998 3:18:00 PM
From: Bill Shepherd	Read Replies (1) \| Respond to of 42834

Re: Does anyone think Buffett has put large amounts of NEW money into MSFT, KO, DIS, LU, Yahoo, OnSale, etc. at these high valuations? You are right on, Kirk. One can only shake their head at the levels of some of these stocks. More importantly, as I recall it, Mr. Buffett does not invest in technology companies such as MSFT or LU or even Yahoo. Apparently, he does not invest in any industry he DOES NOT UNDERSTAND. Since Mr. Buffett's investing success is extraordinary, I would say this is a good policy. Given the frothy levels of the market, and the tulip-mania of some stocks, I think more people should adopt such a philosophy, don't you? Regards...Bill S

To: Kirk © who wrote (6124)	7/21/1998 3:38:00 PM
From: Trebor	Respond to of 42834

>Mr Rice, does LU at these levels look a bit like a tulip to you?< No, my hunch is LU is one of those companies you could buy at even today's lofty levels, hold for 5 years and be glad you owned it. It's a real company with real products and earnings. It's the Yahoos, Excites and Amazon.coms that look like Holland in spring time to me. I'm convinced there are fortunes to be made in shorting these stocks -- but then again, I thought so 5 months ago too. Just today there's been an 11 point swing in Yahoo. If you were dealing in options and sold 10 Aug 200 contracts this morning at $19, you could buy them back this afternoon at $13 for a quick $6,000 profit. Not a bad day's work. Of course, it could have gone the other way too and that's what keeps me on the sidelines.