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

To: Jess Beltz who wrote (41027)	12/26/1998 9:45:00 PM
From: SteveDavis	Respond to of 132070

Jess, Always remember the market is NOT efficient. It is made up of people and everyone interpets news and information in a different manner and with different results. The investor buying Amazon.com at $300 per share is not an idiot. He believes that is the value now and it will go up in the future. Now, I am not sure I agree with him but THAT is what makes a market, not some computer black box saying that when ABC does this we do that. That is great for the classroom but doesn't work in the real (money) world. When the guy buys AMZN at 300 for a 1000 shares he is investing $300,000!! As they say "Money talks, BS walks". This guy sees something that makes him think that this is a good investment? I don't know the answer but it sure is going to be interesting to watch over the next months and years to see the results. Look at Coke! Colored fizzy water. Dominates the world. DELL is a very simple business plan. No barrier to entry. The graveyard is full of investors that have shorted Dell stock. It has increased some 55,000% in the last 9 years!!! Look at Southwest Airlines. The majors are scared to death of them. Very simple model but no one can execute that model. It is a culture factor. Same with Walmart. Go figure. They ate Sears lunch. Good luck on your investing. Remember stocks go up because people are buying them. Steve Davis

To: Jess Beltz who wrote (41027)	12/27/1998 12:19:00 PM
From: Knighty Tin	Read Replies (4) \| Respond to of 132070

Jess, A Hoosier. I wish you well. I almost went into college teaching myself. In fact, that was my original intention when I enrolled in graduate school. But I have always been known to allow money to change my mind. <G> I read Carl Johnson and the rest of the guys in Infrastructure religiously. I disagree that the bottom has been reached as there has yet to be any sign of a turnaround that cannot be explained by seasonal factors. Also, I firmly believe that Y2K is going to destroy business buying of pcs. Many disagree with that, but they are not ordering pcs for businesses. <G> Yes, the market is being manipulated. There is this fella called Alan Greenspan who believes that the Fed should not interfere in markets at the top, but should jump in if they head down. <G> Sadly, his machinations are going to lead us to a lot of problems next year and, perhaps, for the next several years. I have found a total prejudice in reporting on semis, but that has been so for a decade or more. Intel, due to the overbuild of pcs, is having one good quarter in a row. The stock has reached new highs. However, nary a story I have read about their miraculous turnaround mentions the fact that they are enjoying down eps this year while the stock is at new highs. It just doesn't cross reporters' wee minds and the company certainly never mentions the fact. Good Luck, MB