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Pastimes : Prudent Bear Fund (BEARX): contrarian investing -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (527)	1/9/1999 9:37:00 AM
From: Sean Burke	Read Replies (1) \| Respond to of 793

Thank you for these excellent links. I am in the process of picking up a large (for me) percentage of BEARX, as I have a strong conviction that we are at a market peak. I was lucky and bailed out last year before the market drop, then jumped back in near the bottom. Getting back in was very difficult, as it seemed virtually everyone was convinced a worldwide recession would hit the US very soon. Funny thing is, I am seeing the same attitude now on the upside, and in my opinion the global fundamentals have NOT changed. The export market is very important to the US, and it will impact domestic earnings and thus market perception sooner or later. The Internet stock surge is just plain silly- yes the Internet is and will change how we live and do business, but what people don't seem to realize is that it is the great equalizer. Like farming potatoes (sort of), if everyone is doing it the only way you can compete is by price. Sure, you can claim you have a 'special' way to raise potatoes, or a new delicious variety, but at the end of the day you still have potatoes. Same goes for consumer services- books (amazon.com), broadcasting (broadcast.com), etc. Look forward to future discussions with all of you. S