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To: KeepItSimple who wrote (34419)	1/12/1999 3:36:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 164684

I agree, but isn't the horse pretty much out of the barn? I never could figure out the rationale behind the 3rd rate cut. My guess is that the board of governors of the Fed are wondering what they were smoking too. They basically put their stamp of approval on bubble investing. Another thing which has been touched on before here is that a greater number of people than ever is "investing" in the stock market. SI is being swamped with newbies who have come to the [wrong] conclusion that they are brilliant "natural stock picker" investors. As the article posted here earlier mentioned, there is only one way for this to end: utter ruin. I'm thinking that 1999 will see a correction that will make last Sept/Oct look like a picnic. The outcry of pain could become an uproar.