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

To: gbh who wrote (46943)	2/13/1999 2:34:00 PM
From: Earlie	Respond to of 132070

GBH: I'm actually marginally familiar with certain aspects of Park's career. It must have been a ball to have worked with him. I'm hobbled with a fundamentalist's outlook. Most of the time, it keeps the tanks full and the mortgage paid. Once in several generations, one must live through a mania. I never expected one to show up in mine, and was slow to recognize it. Market lessons can be expensive. On the other hand, having formulated a more appropriate strategy, as noted earlier, it's starting to be fun again, and I know that I'll be around when more bullish types are road kill. As an example, I think I was one of the first to enunciate "the agony of the two year wait",... again, a lesson acquired at considerable expense. If you were to go back over some past posts, you might be surprised to note the point at which I became an active Dell debate participant. You'd be even more surprised to note the point at which active market involvement commenced. Train tracks are harmful to a bear's beautiful fur. This particular stock has not (yet) gored me. (Now some other stocks,...they have my blood all over their horns). With respect to Dell, from my perspective, it is truly awe-inspiring to see market participants carry a stock to such over-blown valuation levels. My response to this is to post the rationale behind my perspective, examine the counter arguments that delightfully appear, re-examine my views in the light of new info, and act (or stand aside) on that basis. One thing I am certain of and that is we are very close to more than a "correction". While it may sound corny, I will not rejoice (over vindication), but will feel sorrow that so many good, hard-working families suffer when a bit of common sense might have spared them the hardship. The degree to which they have been lied to, is outrageous, and provides an excuse or perhaps even a scapegoat. But to have completely closed one's eyes to the reality of a deflationary wave washing across the globe boggles the mind. This one has provided effusive warnings. Best, Earlie