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: nihil who wrote (2228)	12/25/1999 12:21:00 PM
From: KeepItSimple	Read Replies (2) of 3543

>The problem in 1930 was that the investors didn't buy and hold. If you > had invested $1 million at the peak in 1929, today it would be worth > $17 million. Once again another mindless "buy and hold" post. You neglect to mention the 30% of stocks that were eventually delisted after the crash of 1929- what if your "investment" happened to include some of them? "Buy and hold" until hell freezes over won't bring any of your money back on those issues. And then you state that 1 million in 1929 would be worth 17 million today- but you neglect to mention that the market was STILL trading lower in 1945 than in 1929. I guess if you can wait more than 15 years to get your money back, thats ok.. However when you're 60 or 70 years old, you might have a problem waiting that long. The problem is that in the last 10 years, bear markets have lasted about 5 minutes. People forget that REAL bear markets can last a decade or more. Lets see how religiously people "buy and hold" when stocks go flatline for even 5 years.

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