Forum Archive Index - April 2001

[Marilyn Munroe <who.c@res.co.nz>]

Peter I have never invested in  New York. The P E's of U S stocks
make my eyes water.

When Alan Greenspan made his comments about irrational exuberance in the U S stock markets I was nodding my head in agreement.

It would have been nice to ride the wave of the recent bull market especially when you take into account the US$ v NZ$ situation, but I'm just not that brave.

One aspect of the U S stock markets that I admire is the role of the Securities and Exchange Commission as market policeman. I believe that it gives investors there confidence in the honesty of other market participants and results in higher valuations and greater liquidity. I believe that the New Zealand Commerce Commission should be given more such Spanish Inquisition type powers to put  share market sinners on the rack.

"Nobody expects the Spanish Inquisition!" Michael Palin, Monty Pythons Flying Circus

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