Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: seed_partner who wrote (612)	6/24/2000 4:46:00 PM
From: LLCF	Read Replies (1) of 436258

Seedling! Glad to see you participating! Of course your assertion about money flows is a very good one, and probably part of what's driven the market up in this long bull market. However, don't you think that you also need good sound fundamental value for this to continue? IMO the argument that the market will go up because everyone will keep buying is just the old 'greater fool theory'... I've dubbed it the 'modified greater fool theory' because of the added kicker of 'demographics' which actually makes the theory more plausible. It also implies that one 'get out' at the 'right time', which everyone assumes is 10 or so years out. My take on the demographic argument is that it is a 2 edged sword, especially given the leverage employed throughout the economy based on this premis. Look for wild Volatility, but not necessarily straight up performance as boomers also look to protect retirement as opposed to just mindlessly buy overvalued stocks in hopes for a third yacht. DAK

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