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To: Gregg Powers who wrote (13275)	8/4/1998 12:08:00 AM
From: marginmike	Read Replies (1) \| Respond to of 152472

Greg I find that there are so many great companies at valuations so low that I scratch my head. Everytime an analyst touts CYSCO, or IBM or buying big bluechips at 40-200 PE I laugh. Frankly ive already taken a pretty nice beating but my small and mid caps and Japenese ADRS are to cheap. They keep going down I buy more. I keep nice amounts of cash and refrain from using margin. I actually feel better when the market is corecting it makes me feel like theres some sanity out there. I know my stocks have great MGMT, have real earnings in this poor enviroment, and are around book value and at discounts to growth. I sleep well. Another point that has been left out is the fact that when everyone is really bearish is usially when the rally starts. We have a way to go but Europe and china are doing well, Korea has semingly got its house in order, and when the Japenese finally get their act together we will head up again.