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Strategies & Market Trends : NetCurrents NTCS
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To: Teresa Lo who wrote (5543)2/9/2001 7:42:59 PM
From: Michael Watkins  Read Replies (2) of 8925
 
Well, that's because they only panic at the bottom

I'm surprised at all the complacency. You would think with the past year behind us, that people would now know that the downside is just as important to consider as any potential upside.

So many folks over the past two or three years made a choice to become active investors, 'traders' even. All walks of life from what I can see.

While there are certainly exceptions, the impression I get is that many people have had disappointing returns over the last 12-18 months. Many of these people that are down also seem to be holding on to sizable losses. Avoiding the news except on 'up' days is a common trait.

The selling these last few days certainly isn't the average individual investor, trained from birth almost to buy and hold, that things always go up, over time.

Perversely, as losses grow, many people hang on tighter, believing that they have 'lost nothing until sold'.

So what kicks in the mass panic?
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