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

To: PaperChase who wrote (43993)	1/20/1999 9:01:00 AM
From: Mike M2	Respond to of 132070

Paper, I do believe that the congress is irresponsible and ignorant enough to put SS money into the stock market -the one thing that may prevent them is the SS money is currently used to "balance" our budget. The damage on the downside will be proportional to the excesses on the upside. since we have shattered all valuation records and credit creation records I expect the downside to be most severe -well under Dow 4000. Remember the crowd is right during the trend but wrong at the major turning points. to whom will they sell. I saw charles Ponzi on the history channel the other night -his Ponzi scheme generated huge wealth on paper as long as few people did not want their money back. Reminds me of todays " I'm in for the long term investor" yeah they'll be in it for the long term but it won't be as fun as the past 16+ years. mike -forever bearish hohoho

To: PaperChase who wrote (43993)	1/20/1999 12:05:00 PM
From: yard_man	Read Replies (2) \| Respond to of 132070

I was wrong -- thinking we topped out last year ... but picking tops is hard. Being fully or mostly invested when the crash comes will be considerably more wrong (as far as the results are concerned) than having a few puts expire worthless along the way. Am I wrong in my belief that we are in the midst of a financial asset bubble? -- NO. Ignore it it if you want, to trade a little, but you are simply speculating -- not a bad thing, in and of itself, as long as you do some things to limit risk. Good luck, PC.