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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rocketman who wrote (6304)	1/16/1999 1:53:00 PM
From: Steve Lokness	Respond to of 9719

Rocketman; A great speaker does not necessarily make a great fed chairman. While she may indeed be correct that Brazil does not matter that much, what we should all keep in mind is that it does matter some and when you start adding up all the pieces I would much rather see an economist guru showing a little caution at the warning signs. While Brazil might not mean much to us, it will to some companies and we must add that to what could happen in the rest of South America and to what has happened in Asia. During a time that we are puffed up about a new world economy we increasingly find the US as a last bastion of financial boom. That the chances of that happening without a recession of some kind surely is becoming increasingly slim. What in the heck is going to happen to those companies with frothy P/E's if we do get a downturn? Should I throw in internet valuations? No a good chairman is one who looks at the the pieces but the adds them to the "big" picture realisticly. One reason we can talk about such great times and valuations is because chairman Greenspan has done just that. It is easy when times have gone along so good for so long to look at every issue and justify how it will not affect us. Steve