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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Alan Norton who wrote (795)	9/7/1998 2:51:00 AM
From: marc ultra	Respond to of 15132

re:AJC, I have no doubt she is going by her models as Bob is and both have had quite similar projections for quite a while. If according to the things they look at nothing major has changed except prices are considerably lower this is why she stands steadfastly by her projections and I think the reason why I detect her being very strong in her views at present while Bob is a little less table pounding than he had been is partially the difference in their clientele. AJC is talking more to institutional clients or advising asset allocations for large accounts while Bob is dealing with mostly retail customers many largely on their own who will simply follow his advice unlike an institution or large client who may be getting opinions from various sources. Considering the recent big losses we have taken following Bob and what I suspect has been substantial losses by him though not really our business, I think Bob is just trying to be responsible and not encourage his followers to bridge jump now in an attempt to recoup losses since obviously the market has not acted in the way he had predicted in the short run and it would be pointless and irresponsible for him to encourage investors to go further in the hole since things will do fine eventually if his view of the market is correct but at this point volatility may rule for awhile. If foreign markets can follow through Monday night on their big gains overnight the US could be set for a dramatic recovery Tuesday. I hope Greenspan or other Fed officials don't start spreading the word that while the chairman was expressing his concern there should be no implication that rates will be cut any time soon which is often the kind of cautious blather they have a habit of engaging in if markets take a statement too positively Marc

To: Alan Norton who wrote (795)	9/7/1998 7:41:00 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

Alan: re: "Abby appears to be in a catch 22 situation, but I don't think that it has anything to do with the Goldman Sachs IPO scheduled for later this year. If Abby issues a statement of caution or an outright sell signal, she may believe that she could precipitate a market event that would hurt many of the clients that she via Golman Sachs represents. If she issues a statement of optimism or an outright buy signal, she risks watching the market fall along with possible further erosion of her clients portfolios. Given the volatility in the market and the domino like effect of falling foreign currencies, a cautious approach is understandable. That leaves one option, stay the course. Eventually, the market will come back. I may be wrong in this analysis, and I will admit that I very well could be since this is nothing more than mere speculation on my part. Still, I have to wonder if she feels that she has a responsibility to allay investor fears by publicly stating that she is confident in our economy. I am guessing that she is feeling a tremendous amount of pressure to 'do the right thing' - whatever that is. I hope that she is paid well for what she does. For the record, I respect Abby, as I do Bob." Nice post. I think you are right in that Abbey Cohen may feel a tremendous amount of pressure from various sources. But in the end, she is going to make the call she believes is right and is going to advise her clients accordingly. And then she is going to tell the rest of us schmucks. I do not doubt her integrity. My goodness, all I have to know is that she still takes the bus to work from Queens or Brooklyn to her Manhattan office. All of these people who are developing these incredible theories for the motivation behind her analysis should look at some articles that examine Abbey Cohen, the person. In that context, they should then revisit their allegations because I suspect they might come to an entirely different conclusion.