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Technology Stocks : TSEM --Tower Semiconductor Ltd.
TSEM 99.84+1.9%Nov 11 3:59 PM EST
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To: Xenogenetic who wrote (28)4/6/2000 1:54:00 AM
From: ahhaha  Read Replies (2) of 60
 
During the '70s the institutions had the same degree of expertise, yet with all that capability, they were particularly poor at investment. They became en masse the laughing stock of Wall Street. They were sure that America was headed for endless prosperity and none could see that the structural inflation was pulling the rug out from underneath them. Their failure was so complete that after the horrendous down side of '74 where most institutions lost as much as 80%, they wouldn't return to significant market participation for 10 years. They all had the same neo-Keynesian demand management economic background and they all believed in the "Nifty Fifty". Those fifty were what lost them the 80%. Even in the contemporary era you will find "staffed with some of the most adept research combines that you will ever find" almost put a major dent in US financial institutions when LTCM hit the wall. Where there is knowledge, there is ignorance, and vice versa. Often it is that the public leads and the institutions must follow the truth the people find inadvertently by the unseen hand of the free market. You say you understand the unseen hand but by all your comments you don't. You have faith in people who are experts rather than faith in people. You will find just like major corporations have found that the public knows plenty even while no one of them knows anything.
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