Hi Mohan:
The bears of the financial world have since October(the great anniversary) dragged every skunk out of the burrow and held it up for us to see. Especially that of 1929.
I have decided to hold the stock I have because America
and the DOW has survived all of the following in the past and good stocks are still alive.
Consider what we have recently survived:
The Boeing cutback of the 60's, where they went from 129,000
employees to 39,000
The gas shortage and lines of the 70's
The bankrupcy of perhaps 1/2 of our airlines( Frontier, Braniff, Continental, Pan Am, Midway, etc
The bankrupcy of our railroads( and along came AMTrack)
The bankrupcy of Chrysler( and along came uncle Sam, because
he had $5 bil worth of tanks on order there)
The bankrupcy of most of our S and L's, including the largest, Gibralter the rock, and along came the RTC
The bankrupcy of Barclays bank in England
The Llyods of London disaster ( lost $2.8 bil)
The wppss disaster and cancellation on 5 neuclear plants.
The cancellation of all neuclear plant contruction, and
closure of many just completed at huge costs.
The bankrupcy of Orange County in Calif.
The Lincoln saving and Loan disaster( Is CK still in jail)?
Perhaps three or 4 wars which did not seem to hurt the financial world( this could be more like ten, if you include
Israel, Bosnia, Argentina, Iraqi,etc)
The impossible-to-fix-budget deficit, which now seems to have
vanished like smoke.
I don't really want to give the financial bears any more
ideas , just wanted to point out that the bankrupcy of a little
old Japanese bank or financial house is just not going to cut it, in regard to destroying America or the NY stock market, or the computer industry. Maybe Bill Gates could loan them
some money, or buy part of the country.
BTW Unlike John Choi, I was around for the big one (1924 thru 1929), although I was not heavily invested at the time(gggg). Our usual lunch was jam sandwiches, which consisted of two pieces of bread jammed together.It never
became popular.
Sig
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