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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Phil(bullrider) who wrote (3081)	9/18/1998 2:57:00 AM
From: Sword	Read Replies (1) \| Respond to of 18998

Phil, They have an influence but I don't think that they have the capital to really determine the direction. Rather, the total capitalization of the markets is book value plus estimated value. The estimated value can quickly be destroyed when the predictions for the economy or the prospects of the company are reduced. Then, 10% of the owners of the capital stock can bid the price down to half of what it was or less while the other 90% of the owners of the stock just stare in amazement as their net worth plummets in a huge "paper loss". This is what, I am afraid, 150,000,000 "mom and pop" investors in the stock market may experience in this world wide recession as they watch the indices slide into oblivion. But, I agree it's time to go to bed. Good night! Nice talkin' with you. -Sword