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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (43705)	1/17/1999 11:21:00 AM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Earlie, I had a friendly conversation on Prodigy about a year ago with Ted David about the cheerleading bull propaganda issue. He insists that they will get more viewers if the market crashes, which is true if it is a 1987 quick turn. If it is 1974 or 1930s, I think they wither. And their advertisers go out of business. However, I do hear commentators like Jim Cramer say that CNBS is prejudiced to the bear side. I find zero evidence of that, and wonder how he can make the comment. Barron's, maybe. That could be why Barron's hired always bullish JonThang Laing and did their tech column with a guy who rarely has a discouraging word. MB

To: Earlie who wrote (43705)	1/17/1999 7:47:00 PM
From: geewiz	Read Replies (1) \| Respond to of 132070

Earlie, Ignorance is Bliss; Did you see Gretchens' NYT's piece today? For Private use only; The New York Times: Your Money By GRETCHEN MORGENSON NEW YORK -- Last week, the U.S. stock market looked a lot like the weather in New England, as described famously by Mark Twain: exceedingly changeable. On Wednesday, when it was clear that Brazil was going to devalue its currency, U.S. stocks shrugged; the Standard & Poor's 500-stock index fell 0.4 percent. The next day, investors decided that the devaluation had grave consequences for American companies, and the S&P fell almost 1.8 percent. On Friday, when the currency was allowed to float completely -- the thing investors had feared most -- stocks cheered, with the S&P rising 31.07 points. An up-and-down stock market is nothing new, of course. But the extremes in mood seem to be rising. And the gyrations last week were especially puzzling because investors had been aware of potential problems in Brazil since August. Edward M. Kerschner, chief strategist at Paine Webber, said the week's wild ride was to be expected, given the market's 34 percent gain since October. "When you have a fully valued market, by definition it is vulnerable to sentiment swings," he said. But another, intriguing explanation was offered by Baruch Lev, a professor of accounting at the Stern School of Business at New York University. Lev thinks that volatility has risen because investors are increasingly uninformed about their holdings, thanks largely to huge writeoffs and other accounting practices that muddy financial reports. COPYWRITE New York Times Jan 17, 1999 ----------- www12.nytimes.com later,art