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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: BubbaFred who wrote (3709)	10/24/1998 9:43:00 AM
From: Haim R. Branisteanu	Respond to of 5676

Geenspan and Rubin are in a bind. WS sneaks induced Joe Six pack to abandon Cd's and Treasuries for stocks in their 401K and pension funds. The greed took over not in 1991/92 but in 1995/6/7. A serious adjustment to the mean in stock valuation will wipe out most of teh gains in those accounts and bring them into the negative. This will inflict serious demage to consumer confidence and then further to the economy. Can they avoid this I do not think so, but it will be a prolong grind and lots of prayers for rest of the world to get back on their feet. The market will be at best in a trading range for along while with a downward bias. Just remember DELL, CSCO, YHOO, AMZN, LU etc. with stratosferic multiples were the norm of valuation in Tokyo in 1989. Will see who will be first. BWDIK Haim