All Clowns Must Be Destroyed Message Board

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Pastimes : All Clowns Must Be Destroyed

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To: coug who wrote (16445)	3/11/2000 10:35:00 PM
From: KeepItSimple	Read Replies (1) of 42523

>Yes the market is strange.. but it is always right, if there is such a thing as right or wrong in such things as markets.. There is no "right" in the market, there is only what is. Was the market "right" when it valued Bre-X for billions of dollars, only to be revealed a total fraud the next day? No- the market wasnt anything. The people investing their money were SUCKERS, they just didn't know it yet. The market is just the total of all the irrational, emotional, insane collective investing decisions of the public on any given day. Every company cannot have a P/E of 500. Shall we start valuing the local shoe shop at that price? How about a realy trendy restaurant? Or better yet, why doesnt every man woman and child have an IPO and we'll ALL BE RICH! Oh yeah, except that nasty inflation thing. A stack of pancakes will cost a thousand bucks. But don't worry about that- we'll have the beaurau of labor statistics to tell us that the CPI and PPI aren't going up, because they'll just exclude anything that rises in price. That is, until people on fixed incomes start screaming bloody murder because the monthly check they get doesn't reflect reality anymore and they can't buy food or pay the rent.

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