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

To: Dale J. who wrote (54010)	3/31/1999 8:04:00 AM
From: Earlie	Read Replies (1) \| Respond to of 132070

Dale: A new paradigm. Yes, indeed. There are a bunch of sheep that are going to learn what paradigms are all about when this thing ends. It will be a new paradigm that relates to how nasty the combination of old age and poverty can be. With respect to analysts' forecasts, all I can say (and remain polite) is that I'm glad that I'm independent and have no corporate execs telling me that I've got to maintain a positive outlook or find a new job. Incidentally, I have a lot of respect for Lafountain at Needham, not because we agree on the stupidity of MU being priced at anything over $2.00 to $3.00, but because he has the guts to speak out and place a low valuation on an obvious piece of horse droppings. Not many analysts do more than cuddle in with the herd. As you note, analysts were initially calling for 22% earnings growth for the tech sector and close to 20% for the S&P for 1998. Of course, their forecasts quickly melted as the year progressed. We have now enjoyed 5 quarters (the last ending today) in a row of descending earnings. Worse, the deterioration accelerates. Thank goodness all will turn suddenly by mid year, and will become gloriously positive. (g) Best, Earlie