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

To: Mary Cluney who wrote (38346)	12/6/1998 6:21:00 PM
From: Skeeter Bug	Respond to of 132070

>>finding bargains or values are more difficult.<< mary, bargains abound. i'm referring to cost per business bought. bargains in the sense that you buy cheap and sell high a short while later (regardless of business performance) are hard to find. the game now is thoughtless momentum in certain stocks (large float, well known and lots of liquidity).

To: Mary Cluney who wrote (38346)	12/6/1998 6:37:00 PM
From: accountclosed	Respond to of 132070

There is more money chasing good investment - therefore the cost of good investments are more expensive. There are no more "steals". That is perhaps what I am saying. Mike and his followers will have to accept less. Things may not go back to the way they were in the old days - even if we do have a massive correction. I think this analysis misses a couple points. 1. "good investments are more expensive" has a feedback loop inherent in it. They stop being good investments as they get more expensive. 2. "more money chasing"...just as underinvestment leads to inefficient markets, overinvestment leads to inefficient markets. 3. "even if we do have a massive correction"...MB can play the short side and clean up just as easily as the long side. A massive correction would be a welcome relief. And massive moves in any direction create temporary opportunities.