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To: BigBull who wrote (40760)	3/24/1999 1:37:00 PM
From: marc chatman	Respond to of 95453

Since Goldman's planned IPO is coming up shortly (again), Abby has to say good things about the market. Can you imagine how much it would cost her firm if she were to make some bearish comments and the market were to sell off? Only Abby could tell you whether she believes what she is touting, but if I were in that position, I sure wouldn't kill the goose with the golden eggs.

To: BigBull who wrote (40760)	3/24/1999 7:32:00 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 95453

from the Cohen article: She said: ""We remain confident that aggregate profit growth can be justified on the basis of less feeble global conditions and sector-by-sector expectations," Cohen said. As for inflation, the outlook remains optimistic as significant excess global capacity in many industries will render a flare-up in prices highly unlikely. Aren't those two statements mutually exclusive? If there is "significant excess global capacity in many industries", then that means noone can raise prices for their products, right? And, at least in the U.S., unemployment is at record lows, and wages are rising faster than inflation, for the first time in 30 years. Wages are everyone's biggest cost. So where is the profit growth going to come from? I think she's right about inflation, but wrong about profits.