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

To: Earlie who wrote (47036)	2/14/1999 10:58:00 AM
From: Bonnie Bear	Respond to of 132070

Earlie: I always listen to neil cavuto on fox news at 6AM (pst) sunday mornings, I get more out of neil and pals in half an hour than I can in a full week of CNBC. The only thing CNBC is good for is a ticker with the sound turned off. anyhoo, part of the theme this week is "value is back"..."rolling bear for internet stocks".. they said the MMs lost money on this last runup in momentum tech stocks ( I find it hard to believe that MMs lose money on this circus) the money is coming out of people inflating the price of their houses and borrowing ever-cheaper money, the last boom was people taking out 6% mortgages and dumping all that money in the market in October. It's lethal for banks, nobody wants to get stuck with those mortgages if interest rates go up. so now greenspan really has to get a market bear so people will lose enough money that they eventually buy back their mortgage at 6% in the bond market. But I don't have the numbers..wish I did...I think there's 6000 hedge funds and they are a vastly bigger player in this market than joe sixpack. I think the brokerages are happy to see the retail internet mania to keep eyes from focusing on the swamp monsters. This whole market looks more like some big hedge funds trying to do each other in. If we have 8000 mutual funds, 6000 hedge funds, 15 million on-line investors and 10000 stocks with only 50 moving, then violent churning and washouts will be inevitable. But there's been rumors of more LTCMs out there, disasters waiting to happen...nobody knows how much money was borrowed and from whom.