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To: Ken Benes who wrote (32914)	4/30/1999 10:32:00 AM
From: Alex	Respond to of 116763

Amen to that................. <<In an interview that received little notice in the press or investment community Mr. Buffett made some remarkably blunt statements about the market. He likened the current market to a "Ponzi" scheme, comparing it to a housing development in which the same people kept selling the same one hundred houses at ever-increasing prices. He stated that only when a few people sell out and leave the development that you find out what the houses are really worth. He pointed out that this type of speculative market with extremely heavy public participation always "ends badly". He added that there were good reasons why the market started its long climb in 1982, but that at some point, people began buying stocks only because they were going up, ignoring other factors. >> comstockfunds.com