Dear Clark - thx for the recommendation [re: J Paul Getty.] Yes, that is very true. No matter how history has painted the robber barons, past and present, these are exceptional people. For each J Paul Getty, or Bill Gate, for that matter, there are a million or more wannabes.
I have no love for the valuation of the internut stocks [the only one remotely related is BNYN - but I ve held it for almost 6 years!] In fact, I pray they would come down so my value stocks would go up. Of course, that may not happen either <sg>!
Yes, it may be true that the unravelings of asia and of latam were the results of the credit bubble - or, I'd rather think misguided allocation. And so, one could see the internut stocks of this country is no difference from the vacant condos in Thailand. Ultimately, the deepest pockets win. And the ones who got hurt most are those who could afford it!
But what does it mean? That Hegel and Santayana were right? Those who fail to learn from history are doomed to repeat it! Or, the tower of babel is alive and well, and erected in the heart of wall street <G>?
best, Bosco
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