Re: [CANSLIM] Mr. Greenspan

From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Mr. Greenspan
Date: Fri, 25 Jan 2002 01:57:22 -0500
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Dave, sounds like a book I need to read.

As I know you realize, I have long advocated some understanding of the "big
picture" when assessing "M". IMO, that includes things like economics and
how certain reports can influence the market, what's happening in the world,
and the impact and significance of individual events and individuals like
Mr. G.

The danger of this, and the difficulty, is that the markets don't work in a
vacuum. It's no longer earnings alone (actually earnings expectations for
the future). Nor is it just investor or consumer sentiment. Whether you buy
individual stocks, or mutual funds, they can be affected by the most
perverse and diverse reasons, including the spin put on things by the media
airheads. I still regularly think I am smarter than the "market", and get
taught some humility. So far, my ego is still surviving.

Whether you read Mr. G's book to your new and precious son, or HTMMIS, or
sing lullabies, just enjoy the quiet time. It won't last!!

Tom Worley
stkguru@netside.net
AIM: TexWorley
- ----- Original Message -----
From: "Dave Cameron" <dfcameron@yahoo.com>
To: <canslim@lists.xmission.com>
Sent: Thursday, January 24, 2002 7:55 PM
Subject: Re: [CANSLIM] Mr. Greenspan


> 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
>
> __________________________________________________
> Do You Yahoo!?
> Great stuff seeking new owners in Yahoo! Auctions!
> http://auctions.yahoo.com
>
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