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Technology Stocks : All About Sun Microsystems
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To: JDN who wrote (36281)10/9/2000 9:28:10 AM
From: Bill Fischofer  Read Replies (1) of 64865
 
Re: Nifty fifty, bear markets, etc.

As the population who remembers 1929 thins it is inevitable that that particular ghost will fade away. To see why note how nobody in living memory ever compared contemporary markets to 1906, 1893, or other great historical panics. Its for the same reason: people remember the bogeymen of their youths.

So it's natural that the ghost of 1929 be replaced by the ghost of 1973 as the preferred specter for parents to scare unruly children into good behavior. Perhaps in another 50 years the Asian crisis of 1997-98 will take over this role (probably a lot sooner in Asia), or some other early 21st century market panic yet to come. Bears always need to conjure up ghosts of the past because ghosts of the future are so uncooperatively elusive.

Just remember to adjust your calendar periodically.
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