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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (14771)	1/6/1999 4:02:00 PM
From: MythMan	Read Replies (1) \| Respond to of 86076

>>What happens when there is too much liquidity in the syst<< I think we're seeing what happens.

To: yard_man who wrote (14771)	1/6/1999 4:13:00 PM
From: accountclosed	Respond to of 86076

Interesting link, tip There is nobody on this panel who is really being bearish,'' Byron Wien, U.S. investment strategist at Morgan Stanley Dean Witter, said. ''There's a bear market looming out there but not this year.'' I wondered what Wien would say after Biggs made his statements yesterday. It looks like MSDW is hedging their bets like a MB portfolio. The two top analysts are pointing in different directions. At least one will be right. <g> ----- What happens with too much liquidity? We get asset inflation, we get every tom, dick, and harry going public to grab the cash. Thus we get inefficient allocation of capital resources. We get price inflation. We have a big d*** party and then get a terrible hangover, finding that precious resources have been squandered and landed in unproductive hands.