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: Sir Auric Goldfinger who wrote (2838)	5/1/2000 12:52:00 PM
From: Mad2	Read Replies (1) of 3543

Comments were quite interesting, particularly; Mr. Buffett noted the extremes in some company market valuations today. He said some companies may have a market cap of $10 billion but would be unable to borrow even $100 million if they went to the bank. Yet their individual owners could borrow 20 times that amount. Of such imbalances Mr. Buffett said, "This is as extreme as anything that has happened -- including the 20s." Mr. Munger called it the most extreme event in modern capitalism. Mr. Buffett called the current situation "precautionary to us" as professional investors. "It does not spell opportunity." But, he said, "The ability to monetize share holding ignorance has never been exceeded."

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