>http://www.siliconinvestor.com/readmsg.aspx?msgid=14869919
I think William is by far, the king of Clowns. Every stock he picked over the last year, from eFax to Ariba, has collapsed lately.
The problem with his megalomania is this:
Since he assumes he is a genius for picking all those stocks at random that went parabolic, what does he think of himself now that they've all come back to earth? Does he think he is an idiot? Or does he think he has just had a streak of bad luck?
The one OVERRIDING thing I've noticed lately, from my relatives, friends, coworkers, and every single person on any financial show on TV besides fleck, is that ALL OF THEM, WITHOUT EXCEPTION, just *know* the market always comes back. They don't even have the slightest clue as to what "losing money" in the market is. Since they all think you havent really lost money until you sell a stock, they all just refuse to sell. The concept that the market might not bounce back immediately is completely alien to them- they look at me as if they should call the men with white coats. It doesnt matter if you tell them the Nikkei is below where it was 10 years ago, they just say "Oh that's in another country, that could never happen here."
Denial. Man, those are some impressive delusions. |
