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Strategies & Market Trends : The Millennium Crash

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To: clochard who wrote (4251)	6/11/1999 4:01:00 PM
From: Arik T.G.	Read Replies (3) of 5676

Re: Stock market speculation vs. gambling The sad part, IMO, is that in contrast to gamblers, even compulsive gamblers, that know what they're doing (but can't help it), the J6Ps that speculate in this overheated market think that they are "investing". The public that holds AMZN (a big bookstore) on margin, for example, were lured to think that they're holding a good stock that, although a bit extended, is representing future value. Holding DELL (a big computer store) at a P/E of 70 was rationalized by anal-ysts. Nobody called it gambling. Even margin and option plays are called leveraging and not gambling. It will end in tears. ATG

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