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To: Victor Lazlo who wrote (48033)	3/29/1999 10:22:00 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 164684

Did I say thirty? I meant twenty! In any event he has been right at some very important turns, and he really helped me get ahead. Specifically he called the bottom in bonds in the Fall of 1981, start of this bull market in 1982, the famous "Three Yards and a cloud of Dust" disinflation call in late 1984. I don't remember what he said in 1987. He called the top of the Japanese market in 1989 (I remember him writing that based on then-current Tokyo land values the Imperial Palace grounds were worth more than ALL the real estate in California!) He said to sell Houston (and everything oil related) short in 1981, and buy empty NY skyscrapers in 1992. He called the bottom of the 1990 market and assured us that the 1994 decline wasn't a bear market. Lastly he called the top of the semiconductor bubble in 1995. Since 1995 he seems to have lost his touch, but then that was the year the Web took hold. There have been things he has been wrong about in the last four years particularly pertaining to emerging markets, and the bear market in the new Nifty-Fifty. He's a great mind, and I respect everything he says, but bearishness has become his mantra.