Daniel drdq at m5.sprynet.com
Mon Feb 15 13:42:59 PST 1999

Doug wrote: "Another couple of years of bullishness on Wall Street, and it's practically a done deal!"

Here's a quote from the investment letter that I subscribe to (called "Contrarian Corner"):

"The Real U.S. Stock Market (7000 stocks) has lost 3% so far this year. And, not surprisingly for anyone who has been reading brokerage statements, the broad Market is below where it was on May 1 of last year by 7%. The broad Market today is 1% lower than it was one year ago. Of note also is the fact that the broader Market is sloppier than the blue chips and down much further. The Russell 2000 Index, for example, is 6% under its January high and 22% below the bull market high set late last April. And for one full year, it has lost 14%. Since most investors have a large number of Russell 2000 stocks in their portfolios, the losses since my sell signal May 1 have been sobering."

And, since I can't resist (thinking about some comments on this list a while ago about how personal choices don't change the world), here's a little bit more from the same newsletter:

"Proctor & Gamble Alert. Dr. Walter Willet of Harvard School of Public Health has taken out his calculator and estimated that consumption of olestra in the average quantities predicted by Proctor & Gamble would result each year in an additional 2000 to 9800 cases of prostate cancer; 32,000 cases of coronary heart disease, 1400 to 7400 cases of lung cancer, and 80 to 390 cases of macular degeneration in the U.S. population. Olestra is the fat substitute marketed by Proctor and Gamble under the name Olean. Nutrition experts say that those stricken by the various diseases fall victim to a "dynamic" drop in blood levels of many protective vitamins and carotenoids. Apparently, even a small serving of Olestra increases the disease probabilities, and a daily consumption of just a one ounce serving of olestra has been shown to lower blood carotenoid concentrations by as much as 50% to 70%. Low levels of carotenoids have been associated in various studies with increased rates of coronary heart disease, stroke, myocardial infarction, cancers of the lung, prostate, and uterus, and cataracts, as well as degenerative changes of the eye that can lead to blindness. With malnutrition as the primary cause of most diseases, and with Americans today representing the most malnourished industrialized population in history, any substance that leads to a drop in blood levels of vitamins and other important components must be taken seriously. Bottom line: read the ingredients label on fat-free packaged 'foods,' especially chips and crackers, and if you see 'Olean' or 'Olestra,' put it back on the shelf. If you own P&G stock, place a stop on it, since law suits could start flying any day!"

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