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

To: Fred B. who wrote (60102)	5/21/1999 7:55:00 AM
From: Mama Bear	Respond to of 132070

"I just find it a little silly for the guy with the negative return " Are you just extrapolating from a call in October that Fleck's return is negative, or is there someplace that will validate that claim? TIA, Barb

To: Fred B. who wrote (60102)	5/21/1999 9:34:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Fred, >>Also, it is a fallacy to believe that none of these bulls will be able to make money in a bear market.<< My only comment is that I don't think they really understand why they have been right. They think (say?) it has something to do with the values. If they do make money during a bear market they won't truly understand why we are having it. I think that's an important distinction that over a lifetime of investing (as opposed to a few of years) will make a difference in your returns. You just can't measure investing ability and understanding by a 2-3 year time frame. If you've followed my other posts you know that I often talk about my 90 year old grandmother that plays horses. She has picked numerous winners in her life and gone on big winning streaks without ever understanding why she won. I don't think she would claim to be an excellent handicapper. But as I've stated before she makes a mean Lasagna <g> Wayne

To: Fred B. who wrote (60102)	5/21/1999 12:46:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Fred, >>He goes after real scams not "IBM as a scam" and makes good money at it.<< I can top "IBM as a scam" even though I agree with Mike that IBM is mostly financial engineering. I think Microsoft is a "scam company", albeit a great one. If you subtract out the value (after tax) of the average number of options they grant annually and further subtract out the income they generate from selling put warrants the PE is triple digits. Bill Gates is not the richest man in America. Warren Buffett is. Bill, Forbes, and the public just don't know how to count. <g> Wayne