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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Lars who wrote (3014)2/9/1999 12:53:00 AM
From: Lars   of 15132
 
*** Answer to Market Commentary ***

"We've had a de facto two-tier market for months now: one tier consisting of a half a hundred big "growth" stocks and their loyal institutional admirers, the other made up of the thousands of hum-drum issues and just-plain-folk investors...A section of the market [should be] officially set aside for the exclusive use of the big players and their chosen playthings, more or less like an African game preserve, if only in the interest of public safety. For sure as shooting, should the institutional gamesmen tire of the sport, many an innocent might be trampled in the resulting stampede. We're still convinced that one major excess of this bull market-- the institutional herding into a relatively few stocks--has yet to be remedied."

Does anyone know when this statement was made and by whom?

Alan Abelson, Barron's September 1973
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