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

To: Giordano Bruno who wrote (57194)	4/23/1999 11:37:00 PM
From: Peter Goss	Read Replies (2) \| Respond to of 132070

" But for now, just realize that in the New Paradigm, earnings don't matter." Apparently he's right.>>>> This is bugging me to the point of total frustration. Internet companies report losses on top of losses but since they are slightly smaller than expected the stocks go up 20%. The blue chips report crappy earnings but because the bar has been set so low, Wall Street applauds and Etrade maniacs hit the buy button. The troubling part is that I don't see where or how it will end. The management of expectations has got to be Wall Street's biggest success story ever. The have the public so cowed and unthinking that as long as they have money to crank into the market they will because everything is meeting expectations. The private investors who see the real situation are totally crushed when they make decisions based on the usual laws of finance and investing. I know that in a world without reality that attempting to employ it is a futile exercise, but I don't see the mechanism that will stop it. Since the price is just a number on the screen why can't it be 15,000 instead of 10,000 or $800 on AMZN? The guerilla war you have to fight on the short side is exhausting. Sorry for the rant, Peter

To: Giordano Bruno who wrote (57194)	4/24/1999 10:05:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Maybe the operative words are "for now." Automobile brakes are much better engineered now than they used to be; I learned to drive when brake failures for several reasons were much more common--puncturing a brake line, leaking fluid from a cylinder, rusting up and leaking of the master cylinder, glazing over of brake pads, and so on. I would at times find myself driving a car with the brakes mostly gone--including coming downhill from the old Simplon Pass highway. When you were in the middle of such a situation, things would still be OK "for now." I was extraordinarily lucky. We are in a new paradigm that has no brakes to it, "for now." Some of those who drive down this highway will not be so lucky.