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Comstock Partners, Inc.
Sober Articles
December 10, 2001
I have made a mental decision to sit on cash. This market is too irrational to be long and too dangerous to be short. So I am waiting with cash. I know it doesn't make much after inflation but I cannot logically find value in the market. However, I do waver at times, and my emotions temp me to join the bandwagon. My little demon tells me "The market is all-powerful and impervious to the economy. Valuation is meaningless. Follow the cash. Don't fight the masses." It is reading sober articles such as yours that reminds me the tragedy that could await me, foolishly believing that I can be in and out of the market without being taken out.


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