Fool.com: Dear Abby [Fribble] April 19, 2000

Fribble Dear Abby

By fi11more
April 19, 2000

Dear Abby (Ms Cohen),

Now that you and others have succeed in creating a somewhat self-fulfilling prophesy of a "market correction" (I use the term loosely as even undervalued stocks are being sold off), it seems that soon you would want to reverse your position of holding cash.

Now, I don't personally blame you for the fear that has caused this over 30% drop in the Nasdaq recently. After all, you were only one in a number of catalysts that created fear. It seems to me, though, that since people listen to you, you can be as instrumental in stopping the market from dropping as you were in helping it drop.

Now that most companies' stock prices are at bargains for the year, I was wondering: Wouldn't this be a good time to start putting the cash back into the market? I mean, after all, the "correction" you all feared and made others fear, has now come to pass.

Let's face it, even if you believed that some of these companies were overvalued (which some may have been), you have to admit that there are some true bargain values at the moment. I would think that in the best interest of your following you would want to point this out, to help curb the tide of fear and uncertainty that seems be prevalent on the Street.

Those of us who continue to hold know that once your following comes to these realities we will again be placed at "correct" valuations. You see, we don't really see a 30% difference in the business fundamentals of the companies we own over the last couple of weeks. Holding cash isn't really helping make anyone money now, is it?