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

To: yard_man who wrote (22204)	7/24/1998 6:35:00 AM
From: Monty Lenard	Read Replies (1) \| Respond to of 94695

Tippet, Here is why I am not playing this game. reports.guardian.co.uk Excerpt: "In the case of the US, we are seeing stock market speculation, some real estate speculation and a terrific boom in mergers and acquisitions not benefiting efficiency but benefiting those bringing it off - plus there's an explosion of subsidiary financial operations, including in particular junk bonds. When the market fell on Monday, it was blamed on South Asia; any future problem will be so blamed. But no one should doubt that there are grave flaws in the Wall Street financial structure." I remember John Galbraith from my freshman year in college (1962) as required reading. Monty

To: yard_man who wrote (22204)	7/24/1998 6:54:00 AM
From: Monty Lenard	Respond to of 94695

And just in case you didn't make the trip here is another excerpt "The Observer: Do you believe, and have you ever believed, there is any truth in the 'new paradigm' idea? Galbraith: When you see reference to a new paradigm, you should always, under all circumstances, take cover. Because ever since the great tulip mania in 1637 [when 'investors' bid up the price of bulbs to astronomical levels, even devising a system of call options on tulips they didn't actually own], speculation has always been covered by a new paradigm. There was never a paradigm so new and so wonderful as the one that covered John Law and the South Sea Bubble - until the day of disaster." While I disagree with some of Galbraith's political leanings, I can't argue his intelligence. :-) Monty