I just want to point out that there is robust change. I hear this stuff all the time, about how it is a bubble, it's ridiculous. If you just use numbers to do this stuff, No. 1, you won't buy them, which is probably a good thing for some people. But you will never understand the amount of change that's going on, and how much is still ahead of us.
I don't see any signs of a recession out there. In fact, the economy seems a bit too hot. There is a lot of money out there, and the Fed will start to tighten. You're basically betting the Fed overcorrects. I can't predict that. Excluding that, I don't see what gets in the way of this trend.
~ Art Samberg, Pequot Capital Management, "Poles Apart: Barron's Roundtable, Part II," Barron's, January 24, 2000
(Art Samberg's Picks)
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