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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (36487)	11/17/1998 8:23:00 AM
From: Ilaine	Read Replies (1) \| Respond to of 132070

Uh, Paul? You might not want to say that. See, if Magner buys stock, the market will dive like Jimmie Hoffa wearing cement overshoes.<g> Play it safe.

To: Paul Engel who wrote (36487)	11/17/1998 9:42:00 AM
From: Mike M2	Respond to of 132070

Paul, I will be the first to admit I sold much too soon but this happens to investors who worry about valuations and history. I realize that a world of excess debt and capacity will cause deflation. Another major error on my part is that I thought the Fed would be responsible and check the speculation in the financial markets long ago. I have since come to realize that AG wants to go down in history as the undisputed most inept Fed chairman in history. I don't mind missing out on the last few bucks because I am confident that the inevitable downside of this mania will be a major secular bear market of historic proportions. Could i be wrong? I suppose there is a remote possibility that we are in a "new era of permanent prosperity" where" the end of poverty is in sight" as was thought about the 20's but more likely we are simply repeating history. Those who fail to study the past are doomed to repeat it. Every period of financial asset inflation ends in financial asset deflation without exception. History hath but one page. I find your comments to be very amusing as they are indicative of the publics dogmatic belief that stocks for the long haul are the only way to go when in reality once again the public has been corraled into the slaughterhouse. I pity them. Mike

To: Paul Engel who wrote (36487)	11/17/1998 11:50:00 AM
From: Giuseppe Scalamogna	Read Replies (1) \| Respond to of 132070

Certainly Paul...I'm sure that there have been successful buy and holders, as well as momentum players, technical gurus, pit buffs, value finders, garbage pickers <G>...etc. The market is made of all these so called "players"...every dog has its day as they say...but keep in mind there have been successful contrarians, shorters, put option maniacs...etc... The great thing about the market is you can make money both ways... But don't kid yourself with "when selling begets selling" its a great buying opportunity...try telling that to someone who played the market in the 70's...i sure wouldn't want to tie up my money in a losing proposition for 5 years...opportunity cost of capital can be a scary thing. Bottom line is..we're not in the clear...there has been alot of needless spending in our economy...a classing recession scenario. We have built up needless capacity, the housing boom is good evidence of this, people are now margined out to the hilt...as was the case with Long-Term Capital...it will take a while before we begin feeling the effects...keep in mind 1) A bear market begins long before any real signs of trouble come to light 2) Same goes for the economy...it's like a last big gasp of prosperity before we dip into bad times... Don't get me wrong...I play the market any way I can, long short, high , low, sideways, upside down...but I don't subscribe to any particular discipline as right...and I sure as hell hate being lied to as is the case with just about every analyst I've come across. Regards, GS