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To: mmeggs who wrote (13307)	8/4/1998 1:29:00 PM
From: marginmike	Respond to of 152472

The fact remains just at the moment everyone thinks it will never change, is exactly when it will! Remember when all these little guys get a kick in their A-- from a corection they may think diferetly. I have tech stocks trading at book value, envolved in CDMA, and growing iun this terrible enviroment by more then PE. Eventially money will shift. It could take years it could happen tomorrow. I think a gage should be made with more of a wide range of stocks, so as to really see where the market is.

To: mmeggs who wrote (13307)	8/4/1998 1:46:00 PM
From: j_b	Respond to of 152472

One of the reasons we've been having the used car discussion is to address just the issues you brought up. Eventually, people get nervous paying the high/ridiculous multiples, even the professional money managers. There will come a time when they start looking for value. At that point, the small and mid caps will start to be examined again, and the quality issues should start to move. All pyramid schemes eventually fail, and when people start either not getting the 30% monthly returns, or think they won't, the panic will start. Notice on this board, you get both types of investors - the day traders look for that quick profit all your clients want, and the long-term holders just enjoy the ride. Unfortunately, the majority of the press goes to the winning day traders, ignoring the risk involved. You never hear about the guy who buys Microsoft right before it goes down 5-10 points, bails, watches it go back up, and goes out looking for a little kid or a wino to kick.

To: mmeggs who wrote (13307)	8/4/1998 3:28:00 PM
From: Don S.Boller	Read Replies (1) \| Respond to of 152472

mmeggs: ITOO WAS A STOCKBREAKER...(for 16+ years)...SO I CAN FEEL YOUR PAIN with clients bitching at you. Much of this my friend is YOUR OWN FAULT...IMHO. See Rule 405 and post it on your mirror to see it every morning when you shave...You cannot be all things to all clients and the quicker you and they know that - the better you all will sleep. Don't worry about the other dudes in your office HALF of them will be in another business within 24 months...YOU MUST have a basic "market approach" that YOU FIRMLY BELIEVE IN.... and communicate it to your clients IF you are of the long term investor bent (I myself am) then the answer to your folks in this sort of a market is VERY SIMPLE, e.g., dear Ms Smith you own ABC Co. and it's down somewhat in market price lately - but if we agree it's still a fine co., with good prospects, then this is an opportunity and not a cause for concern!!!! You and I know damn well that Bill Gates isn't dumping his MSFT, asia or no asia, Clinton or no Clinton. etc." Best, Don