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To: Alias Shrugged who wrote (4000)	10/9/1998 2:16:00 PM
From: R. Gates	Read Replies (2) \| Respond to of 14427

In these gut wrenching up and down swings in the market, shorts and longs are losing money. Real long-term capital is being evaporated at both ends, and that's one of the reasons that there will be nothing to hold the market up. The crash will come, and the more capital that is lost now, the lower and faster we will go down and the longer it will take before it ever comes back. Japan's been down for 8 years now. An 8 year Bear or longer could happen here...believe it...and as the Fed lowers and then lowers again and again, it will not change the ultimate course, just delay the length of the journey a little... R. Gates