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

To: Knighty Tin who wrote (52623)	3/19/1999 1:28:00 PM
From: Peter Singleton	Read Replies (2) \| Respond to of 132070

MB, I like Bob Prechter's focus on the role of mass psychology in driving perceptions, and eventually valuations. It's amazing how powerful mass belief systems are. Even though intellectually it's completely apparent we're in a bubble of almost ahistoric proportion, the bubble psych can be over-powering. And when this thing hits the wall and the capital markets are shattered in so many pieces, I'll have to counter the powerful emotional undertow of bearish belief, so that I can, say, buy blue chips with P/Es under 10, and dividend yields over 5. There's a fascinating set of thought that talks about "memes" ... beliefs and belief systems, almost as if they were genetic (like "genes"), that seek hosts, seek to replicate themselves and contend for survival with other memes. I think we're caught up in something that big. Peter