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To: tonyt who wrote (31507)	12/28/1998 10:57:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 164684

tony, au contrere mon frere. cibc is seen as a genius by the irrational bubble. look, we are almost at their $400 target part. pssst, nobody heard it was a 3 year target. put on the rose colored glasses. everything comes into focus... if you've flown over the cuckoo's nest ;-)

To: tonyt who wrote (31507)	12/28/1998 11:05:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 164684

CIBC will be faced with raising their target again, putting a hold on it, or saying nothing. Either way, they are comming across as a firm that hasn't a clue how to value this 'thing. Since Blodget affirmed publicly that his $400/shr target was a 12-month target, he will either have to do a mea culpa, or say nothing, or simply say that the stock has reached his target. Or he will simply have to admit that he is a plain-old mo-mo kinda guy, and raise his target. With such a high-profile and jaw-dropping target upgrade as was already made, none of those alternatives look very attractive. And of course everyone must be aware that if Blodget had worked for Warren Buffet, he would probably have been fired for attempting to value an internut. I have seen how Lehman handles it when a stock reaches a 12 month target two months after declaring the target. They say they are still bullish on the company, but are not raising their target, and don't see meaningfull share appreciation in the near future. In other words, they simply acknowledge that the stock reached their target sooner than expected, and they back off saying more. In that case, (QNTM), the stock went up another 10%, and that was it. There was a glass ceiling, and then it was downhill from there, albeit a rocky ride of fits and half-starts. But the trend was down.

To: tonyt who wrote (31507)	12/29/1998 2:57:00 AM
From: Gary Walker	Read Replies (2) \| Respond to of 164684

>the first time in memory when a bubble this big was created by major houses. I don't agree with you on this. The brokers and analysts are just worker bees. When there's plenty of cash available they're just competing to get some of it! The root cause of the bubble is the Federal Reserve Open Market Committee. Here's an clip from the the November meeting: (Note that all of the FROMC agreed to the October "emergency" cut except Jordan) "Mr. Jordan dissented because he believed that the two recent reductions in the Federal funds rate were sufficient responses to the stresses in financial markets that had emerged suddenly in late August. An additional rate reduction risked fueling an unsustainably strong growth rate of domestic demand." bog.frb.fed.us Where is Mr. Greenspan these days? Under his watch some of the most speculative moments in US equity history are unfolding before our eyes. How does this bode for the future of the US economy?