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Technology Stocks : How high will Microsoft fly?
MSFT 486.83-1.1%3:59 PM EST
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To: johnd who wrote (42189)4/15/2000 5:48:00 PM
From: Jacob Snyder   of 74651
 
re: How about NASDAQ going to 0?

Extrapolate any trend far enough, and you can come up with an absurd result. You're knocking down a straw man.

But, it is true that, in the past (for decades at a time), most investors thought of stocks the same way we now think of playing the lottery. My wife's mother has never invested in anything but government bonds, because she remembers the 1930s. The sentiment pendulum has swung to the other extreme (zero risk premium for stocks), and will now swing back again. And probably overcorrect, as it usually does.
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