To: Justa Werkenstiff who wrote (4293 ) 4/5/1999 9:31:00 PM From: MrGreenJeans Read Replies (2) | Respond to
New York Times Business Section and Other NotesNothing good happens at these valuation levels and the persuasive case for the bull becomes more difficult to make. When I hear that if interest rates drop equity prices will move higher I don't disagree but when the Federal Reserve is likely to raise rates as to decrease them I take notice. Gross Domestic Product is strong, labor markets seem strong, foreign economies may be recovering faster than thought, the money supply has grown rapidly, the market has gone up like a shot since October without a significant pullback, throw in concerns over the wealth effects from rising equity prices, overvaluation of internet stocks most of which will not be around in five years, daytraders trading stocks like commodities, a disregard for market fundamentals, coworkers who don't know stocks from bonds giving out advice like Peter Lynch, investment banks taking risks they fully don't comprehend, a possible stock market bubble?...and I am one concerned farmer!
