Don't take experts' word for insanely priced stock

The Ticker

February 09, 2000|By Julius Westheimer

WALL ST. WISDOM: "Wall Street can always concoct a theory to justify any insane stock price. Recognize this nonsense for what it is, and try on the suit before you buy it." (A. Gary Shilling, money manager, in Forbes, Feb. 21)

"Don't go blindly for any old fund that had a great 1999 in high-tech stocks. Doing well was easy last year." (Laszlo Birinyi, investment manager)

"Many people who play the lottery feel they don't have money to invest. Yet many lottery players spend $25 or more a week trying to hit the jackpot. They don't realize they could make a better bet letting that $25 compound." (Financial Planning Perspectives)

MARKET WATCH: "A short drop will take the Dow down to 10,000 or lower. In keeping with our election year cycle, the last half of 2000 will be up -- possibly to new highs.

"Then we'll have the long-awaited bear market in 2001." (Smart Money)

"Up to 10 percent of 401[k] owners will hold $1 million or more in their accounts in the next 10 years." (Money, March)

"Between February 1991 and January 1997, the most active traders earned seven percentage points a year less than `buy-and-hold' average investors." ("Trading is Hazardous to Your Wealth," by Terrance Odean)

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