Re: [CANSLIM] Mr. Greenspan

From: Dave Cameron <dfcameron@yahoo.com>
Subject: Re: [CANSLIM] Mr. Greenspan
Date: Thu, 24 Jan 2002 16:55:10 -0800 (PST)

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Greetings all,

I have just recently checked out (from my local library) a book
entitled Greenspan: The Man Behind Money (copyright in 2000). 
Author is Justin Martin.

I'm finding it a fascinating read; and will purchase the book.   It
gives good insights into Alan Greenspan's life, background, beliefs,
obfuscations, and helps to make sense of what he says.

Some top economists who've worked with Greenspan are qouted.   Martin
Anderson and Murray Weidenbaum read and critiqued it.   Former
President Ford is quoted.   etc. etc.

A good example of a learning which can make one money is as follows: 
 The "irrational exuberance" comments are talked about (a day in
which I went to 100% cash and sacrificed several hundred dollars at
the open - which bounced back the next day).   Interestingly enough,
the CANSLIM rules would have forced one to cash (as I was) if
followed religiously on that day.   I remember distinctly (that after
I'd already sold), the evening of those comments, Tom Worley posted
to the group that based on his extensive experience following
Greenspan's comments, he recommended to hold fast to everyone.   I'd
not only sold, I'd posted that it would be a good day to cut your
losses - and protect your gains.   After this read, if I'd known then
what I know now about Greenspan, I wouldn't have sold.  

Finally, as a postscript, I have more time for reading - less time
for investing.   My second child was born on Monday; my wife just got
back from the hospital.   I've been reading "Greenspan: The Man
Behind Money" at 2 AM feedings...   Maybe I understand it better that
way.

Dave

- --- Tom Worley <stkguru@netside.net> wrote:
> In case anyone missed it, Mr. G speaks to Congress today at 10 AM
> on the US economy, and is expected to be upbeat, clarifying his
> comments from his Jan 11 speech in San Francisco.
> 
> Best indications I can see are that there will not be a further cut
> in the Fed rate on 1/30/02. Hopefully today will clarify that, and
> prepare the market for that. A bullish perspective on a recovering
> economy is likely, IMO, to more than offset any disappointment at
> not getting another 25 BP cut.
> 
> Tom Worley
> stkguru@netside.net
> AIM: TexWorley
> 

=====
Dave Cameron
dfcameron@yahoo.com

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