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To: SJS who wrote (7953)	3/26/1999 11:53:00 AM
From: SJS	Respond to of 14427

Any one we know who would enjoy reading this? ________________ BARTON BIGGS SPEAKS Hard to put a price on Mr. Biggs, but the tone was decidedly down as Mark Haines tried to make the Morgan Stanley Dean Witter senior stock pundit eat a little crow. Mr. Biggs has been bearish over the past couple of years, and has been featured on CNBC numerous times. Mr. Biggs however, while admitting that an overall bearish posture has not worked for several years, tried to dodge the questions with a "depends on when you're bearish" type of answer. Overall, however, he called himself one of the biggest fools, as "the fools are dancing, while the bigger fools are watching." Mr. Biggs is obviously content to be watching at this point, regardless of how others view him. When asked if the internet revolution doesn't actually benefit traditional industrial companies like Alcoa (AA), Mr. Biggs said yes, it does, but the effect is already priced into large cap stocks. As for small caps being undervalued, Mr. Biggs stated that it is the top 15-20 large caps in the S&P and Nasdaq that are grossly overvalued, but that doesn't mean small caps will outperform if the Dow has a 15% correction. Overall, an admission that a bearish posture has not been a successful approach. However, from a true contrarian viewpoint, when a long-time Wall Street bear like Mr. Biggs throws in the towel like this, and states that the market has "broken all the rules" it actually is a bearish comment. Briefing.com would have preferred it if Mr. Biggs had repeated his long time mantra that things can't last like this forever.