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Politics : Formerly About Applied Materials
AMAT 107.33-1.2%3:59 PM EST

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To: Jacob Snyder who wrote (60898)2/22/2002 4:12:44 PM
From: Katherine Derbyshire   of 70976
 
>>I suppose you could argue that we'll see the Bubble deflated in steps, like a balloon with a tiny intermittent pinhole in it. But there is no historical precedent for that. <<

I suspect that's exactly what Greenspan is trying to do. Perhaps he's betting that letting the bubble deflate slowly will give productivity gains and so forth time to bring intrinsic value up. Thus stabilizing valuations at some reasonable level.

It's too soon to say if he'll be able to pull it off.

Katherine
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