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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: kahunabear who wrote (31556)	8/26/1998 11:53:00 AM
From: Investor2	Read Replies (1) \| Respond to of 132070

RE: "They (semis, HMOs, REITs, Banks, Airlines, Oil, small caps, Asia, Latin America, Russia, commodities, gold, etc.) have been and are getting pounded while I believe you have been bullish." I haven't been bullish on gold for a long time. I agree that gold has been a complete disaster, having been in a huge bear market for more than 10 years. I really don't follow commodities and I am neither bullish nor bearish on them. I am aware that commodity prices are at lows, which doesn't make my farmer friends very happy. As far as oil goes, I liquidated all of my oil holdings (which were in the form of a closed end mutual fund, PEO) at a very nice profit in late 1995 and very early 1996. In hindsight, the timing worked out well, but I was really just liquidating the position to come up with some venture capital at the time. I don't directly own or follow REIT's, HMO's, or airlines, so I am neither bullish nor bearish on these sectors. Now, small caps are an interesting case. I've heard that the ratio of valuation of the small cap group to the valuation of the large cap group is at a historic low. Will small caps continue their underperformance indefinitely? Probably not, but they may continue to underperform until the Asian-et.al.-Flu crisis is over. As far as Banks, I do own one: BT quote.yahoo.com I've been buying it since the late 1960's. Every time the price experiences a big dip, I put in some more money. Obviously, this strategy has proven to be very profitable over the years on this stock. By the way, BT's price is currently experiencing a big dip, so I'm getting ready to buy a few more shares. RE: "I will conceed that there may be a faint whisper, but it is hard to hear for all of the shouting. <g> " I agree. Since 1966, it seems like the best time to buy has been when everyone is shouting that its time to sell. Of course, that statement only considers past performance, which is not indicative of future profits. <g> Best wishes, I2