Forum Archive Index - December 2001

["capitalist" <capitalist@paradise.net.nz>]

I have, at this moment, retrieved Saturday's Herald from the rubbish bin & read the letter to Mary that some here have commented on. I must say I agree with her reply.

winner69 said:

> The conclusions were very much the same - the US market has had a 17 year
> bull run and is currently in decline, in all probability for the next 17
> years.

 

My husband, NZ VP of one of the world's largest banks, dismisses this as nonsense. In fact long rates are up & he believes recovery will come much sooner than expected. He has written a paper on this & taken bets with off-shore counterparts!

Hugh said:

> While those who invested on trendy numbers amongst the mass on the basis of fashion, glamour,
> beat-ups, charting, are left stranded.
> Its the ratios and the sustainability and the quality of the management and the type of market and
> technology that the coy is selling its product into that counts in the end.
> And that's what Warren Buffett keeps proving. Remember the howls of derision that greeted his
> decision not to invest in the "tech bubble" because "he couldn't understand it" and the howls of
> derision that greeted his temporarily sparse returns while people who had bought up large into say
> Amazon.com were into the manic stage of a manic-depressive cycle.

 

Absolutely, 100% agree. Alan Greenspan said the same re tech stocks.Howls of derision greeted my decision to buy ADV & TEL a couple of months ago. I don't want to re-open an old argument, but I would like to say that my dh & I think that, apart from being an enjoyable hobby for retirees & those who like to churn, TA is BS.:-))

 

Cheers,

capitalist

"Socialists maintain that we shouldn't take all the money away from all the people since all the people don't have money. We should only take all the money away from the people who make money." PJ O'Rourke