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

To: wlheatmoon who wrote (43937)	1/19/1999 4:24:00 PM
From: Exacctnt	Read Replies (1) \| Respond to of 132070

MKC, If you need proof of your theory, MSFT just reported earnings of $.73 which is $.14 above estimates $.12 above the whisper number. The market will rock and roll tomorrow. Regards, Bob

To: wlheatmoon who wrote (43937)	1/19/1999 4:35:00 PM
From: Bonnie Bear	Read Replies (3) \| Respond to of 132070

MKC: the problem is in the "investments" going into those retirement funds. My old plan had novellus and micron...There was no option to get utility stocks or REITs or convertible/preferred or even smallcaps. So the plans have a ponzi scheme with their client companies, to buy the overpriced stocks and put them in the retirement funds. And IMHO the big guys are making the money on the options, not the stocks. This thing called "volatility" takes care of the overvaluation. And the people stuck in these stupid plans realize that they have to trade the few funds and company stock in their 401Ks to make money, which only increases volatility. IMHO we are not moving into an era of permanently higher prices....just higher overall volatility, similar to the 60s and 70s.

To: wlheatmoon who wrote (43937)	1/19/1999 4:39:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

mike, you are right about lots of money. however, the new era says that money will continue to grow and find its way into the market forever. it will take a structural economic event to lead to a crash or a significant decline. it will come... eventually...

To: wlheatmoon who wrote (43937)	1/20/1999 9:43:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Mike, i have 3 tings to say about your note hohoho -g- . Your note emphasizes the " demand" for securities - The street and its lackies bombard the public with message that the demand for securities is so great yet there is very little mention of supply. I'll let you in on a little secret -the supply of stocks is only limited by the demand. Wall St has a saying when the ducks are quacking feed them. From the August issue of The Richebacher Letter"... Wall Street underwrote almost $ 1 TRILLION of new securities during the first six months (1998), fully 40% up on the heady levels of last year. According to Securites Data Corp. , straight debt issuance surged almost 70% above 1997' first half and stock offerings 45%. ..." The Richebacher Letter 1217 St. Paul Street, Baltimore, MD 21202 . I have seen more recent figures but can't find them at the moment but the pace has not let up. Wall St is breaking last years record numbers. I often hear about share repurchase programs but the shares outstanding don't seem to decline - I guess the esops take care of that -g- You make reference to the conviction of todays investor when Joseph Schumpeter wrote about the Great Depression he remarked " people for the most part stood their ground but that ground itself was to give way" . I have no doubt that there will be tough love fer all . History hath but one page . Mike