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

To: Mary Cluney who wrote (38310)	12/5/1998 9:14:00 PM
From: accountclosed	Read Replies (2) \| Respond to of 132070

I'm not from the "valuation is a zero time game" school. I still believe in the fact that markets serve real purpose. That companies access public capital, and that equity capital is vital to our economy. If companies did not distribute risk to the public, many worthy investments would not be made. Also that stocks can grow in value if underlying profits grow and balance sheets are bolstered. Even in this bubble, that underlying process is still there, although it is pretty easy to lose sight of.

To: Mary Cluney who wrote (38310)	12/5/1998 9:56:00 PM
From: Wildstar	Read Replies (1) \| Respond to of 132070

Mary, Just trying to figure out your argument. >>I don't think this has to do with a new paradigm. It is the old paradigm - but things are happening in real time as opposed to slow motion. << This sounds like an argument I have heard many times on SI, and let me try to restate it, and tell me if this is what you're trying to say: Because of the almost instantaneous nature of information today - internet, CNBC, realtime quotes, little gizmos that beep when a stock split is announced so you can rush to the nearest payphone and buy calls - it is impossible to try to do any fundamental analysis, because as soon as new fundamental information is released, the price of the stock changes to reflect it. So it's best to buy a successful company - a "gorilla" - that is the leader in its industry on large decreases in price and hold for a long time. Is this what you're basically saying?