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>From a certain vantage point , Berkshire Hathaway has come away relatively
unscathed with its high PE and growth.
And guess what Buffet did yesterday?
http://www.denverpost.com/Stories/0,1413,36%257E33%257E719998%257E,00.html
Take care,
Steve Karnish, CTA
Cedar Creek Trading
www.cedarcreektrading.com
1-877-668-1125
----- Original Message -----
From: John Cappello <jvc689@xxxxxxx>
To: Infernal Elk <infernalelk@xxxxxxxxxxxxxxxx>;
<MedianLine@xxxxxxxxxxxxxxx>
Cc: <infernalelk@xxxxxxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>;
<realtraders@xxxxxxxxxxxxxxx>; <MedianLine@xxxxxxxxxxxxxxx>
Sent: Monday, July 08, 2002 10:47 PM
Subject: [MedianLine] Re: Re: [RT] 10 Year Stock Market Perspective
> Dear IE,
>
> I have no disagreement with your comments except that there have been
> many 10 year periods that have beaten inflation. And I hope I do not
> give the impression we are going to see the 2000 highs real soon. The
> rationality of the PE properly adjusted for growth, current ratios
> that are markedly positive and inventory turnover, etc. is returning.
> Graham will live on.
>
> What I hope we see over the next year is a more stable market that
> will do uptrends, downtrends and sideway movements over reasonable
> periods rather than just prolonged downtrends.
>
> Hey, I am short the S&P and the Nas and someone sent me a post that
> Bin Laden had been captured and the markets were limit up. Nice
> joke, but it could happen. In the meantime I take the mechanical
> futures trades day by day and keep the set investments based upon
> historical merit that have not changed [selective mutual funds , zero
> coupon bonds, certain Blue Chips, CD's and the like].
>
> From a certain vantage point , Berkshire Hathaway has come away
> relatively unscathed with its high PE and growth. Others that have
> been overlooked with the similar growth credentials will again appear.
>
> Sincerely,
>
> John
>
>
>
> ------------------ Reply Separator --------------------
> Originally From: Infernal Elk <infernalelk@xxxxxxxxxxxxxxxx>
> Subject: Re: [MedianLine] Re: Re: [RT] 10 Year Stock Market
> Perspective
> Date: 07/09/2002 00:09am
>
>
>
> >> The 10 year comparisons were just an aside to show how even at
> >> these levels inflation was beaten handsomely and who is to say it
> >> will not be beaten again over the next 10 years vs. the DJIA
> >> calamity forecast.
>
> john, i'm not a market historian by a long shot, but the 10 year
> period you cite is, to say the least, quite unusual in history. i
> don't necessarily agree with a total calamity scenario, but i also do
> not believe that extrapolation from the last 10 years is a reason to
> be overly sanguine -- there are many structural problems in our
> economy (and globally) which mitigate against us seeing the 2000 highs
> any time soon.
>
> how long will that be? dunno. as a trader, i don't worry about 2014
> -- yet. but i also don't have expectations of moonshots that so many
> giddy people had in 1999.
>
> - *lk
>
>
>
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