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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: denizen48 who wrote (945)11/25/2000 5:32:02 PM
From: Tommaso  Read Replies (1) of 74559
 
If you imagine that this thread is a theater, and that yelling "fire" in it will set off a fatal stampede for the exits, perhaps we ought to charge for our services as Abby Cohen does for hers.

There is, however, no indicator more clear that panic is about to spread, than your post. The last time I heard this kind of tone was in late 1998, just before the LCTM crisis and just before Greenspan and other bankers stepped in to rescue it. Panicky bull market enthusiasts invade a thread like this the way bible-thumping fundamentalist sectarians might invade a classroom where evolution was being taught.

This week's Barrons has two or three fairly good articles on the withdrawal of $8.5 billion from mutual funds (equal to October's entire intake) in the last four trading days, the probable fall of the dollar eventually, and other subjects.

Revised addition:

I am not surprised to see another Jay Chen-Bashing post following the one I replied to. My understanding is that up and down the West Coast there are many investors looking at portfolios that have given up hundreds of thousands of dollars in value. Also, electric and gas bills in California are for the time being going to be double and triple what they are elsewhere in the country. We will see what happens next. It seems probable that many companies will fail and that many stock options even in surviving companies will become worthless.
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