i smell fear, page-223

Hi Heremes,

I am not surprised at all by what you saying but the market conditions have not deteriorated to state of depression or anything like that. This is how the equity market is reacting - as though we are on the verge or falling off the cliff.

I believe there is plenty of investment opportunities - the question - do you have the cash or the bank lines to purchase. We have seen that with Eli Lily's takeover yesterday.

Sales slowing - people are tightening their belts because of uncertainty. I am aware that car sales have dropped and so on... people are cutting down expenditures. My neighbour stops buying expensive cheese...

JK5