Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: EL KABONG!!! who wrote (1883)	8/21/1999 11:28:00 PM
From: Mad2	of 3543

Quite interesting. I am always amazed at individuals that are one stock jockey's. NO ONE is right all the time so despite compelling evidence (or lack of) every stock is a potential time bomb (NEON, WMI, SFSK, IRID to name a few in a bull market none the less all of which had enough glowing writings about them)and the same could be said of short canidates going the other way. Thus its a numbers game of being right more that 50% of the time. The most compelling reason for constantly evaluating new prospects and diversifying is that one needs a reference point to base a decision upon. Guys who follow and invest in only one stock become the biggest supporters because they don't know any better. They don't look beyond their beloved stock. Buying a stock (or shorting) isn't a decision of one stock or an alternative (cash, bonds etc...), its a decision of a world of stocks, sectors and so on. Haven't seen a day in the market when all stocks go down. Without a stable of worthy canidates to select from an individual who is a one stock jocky becomes a market timer in the pure sense of the word. BTW the example you cite (small cap pharm.) is notorious for boom or bust and statistically their a bust most of the time. They attract gamblers due to the nature of the beast (pot of gold at the end of the rainbow), promising opportunities, unknown challenges, long lead time and no track record. Yuk! Formula for disaster. Best Regards, Mad2

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