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Technology Stocks : American Power Conversion

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To: Greg Higgins who wrote (1409)	5/30/1997 6:30:00 PM
From: Mad Bulgarian	of 2574

Anybody else feel like we've been shot at and missed? I for one am glad to see today over. Also not so bummed that I sold my INTC a while back. Greg and Candle, I think there is a very good reason for the herd mentality - it's a cheap way of getting information. Psychologists (Cialdini and others) have called this the Social Proof principle, and it has its merits. Basically it says that we tend to do what people around us are doing. This isn't necessarily bad - we take our social cues on how to dress, how to behave, how loud to talk, how close to stand, from those around us. The nice thing about it is that we don't have to do our own homework - we just look around and BINGO! we have the information we need. Of course, like any shortcut, it gets us in trouble at times. But before you knock it, look and see how many times you rely on social proof in your everyday lives. Now, REAL power comes from understanding the mechanisms which make the human animal behave in certain ways, and taking advantage of them. (The preceeding was not an endorsement for a particular approach to investing or a particular lifestyle.)

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