A whole group of bigwigs have been urging folks vociferously to buy stocks. Let’s see - - it includes New York mayor Michael Bloomberg, Treasury Secretary O’Neill and the President himself. And, with the first signs that corporate governance issues are being addressed by legislation, it looks like some investors have heeded the calls, thinking that they are now assured of bagging exceptional value in the market. But if you think the trio is offering sound investment advice, ask yourself if you ever heard them exhorting investors to sell, back in the spring of 2000.
Looks like some investors have donned their optimistic glasses again and are ready to count the chickens before they are hatched - - many times over. Meanwhile, a host of Wall Street gurus, distressed at the scale of value destruction, are convinced the bottom has been reached and are chirping more volubly than ever. Others, more impressed by how much air was pumped into the balloon during the nineties are not so
