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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: R. Gates who wrote (3457)	9/28/1998 1:22:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 14427

I know that and you know that but does the market know that. We have been having decreasing earnings for a few quarters now yet stock prices go up and gold stays low as everyone fears that the world financial centers will open the flood gates and start dumping. The analysts lower estimates for corporations then celebrate when they exceed the lowered targets. The million dollar question will be how long this cut if it happens and is as much as the street wants can act as an excuse for further euphoria. Will they milk this market up for a few more quarters claiming that the good effects of the cut will take a while to be seen or will they start to let the air out of this bubble before it gets too much farther out of hand. I have been speaking with some people that say FA just doesn't matter anymore and that liquidity is going to drive this market until enough people are out of work and suddenly there is no more inflow. The repercussions of that scenario make it hard to sleep at night. Lee