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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: BigMoney who wrote (2634)3/28/2001 3:03:44 PM
From: tradermike_1999  Read Replies (1) of 74559
 
Back in the wild bubble days of 1999 the online brokers and
big Wall Street full service brokers would run commerical
after commercial on TV that made investing sound like an
easy way to make money. They promoted wild and zany
characters like Stuart the Ameritrader that promised fun in
the market. All you had to do was open up an account.
Last night I, while listening to the cosmology of Arthur
Jensen in the movie Network, during commercial breaks I
noticed a different type of broker ad. I don’t watch TV so
maybe these things have been around for sometime.
One ad was by Charles Schwab and showed a suited Wall
Street type(remember everyone must wear suits now) hold a
town hall style meeting of scared investors. He soberly told the people that “these are emotional times” and warned
them that “sitting on the sidelines without evaluating your
portfolio may be risky.” He then assured them that they can
make money in any market by using the portfolio balancing
system that Schwab has developed. Another commercial,
this one by Fidelity, showed Peter Lynch reassuring
investors to weather the storm.

How things have changed in a little over a year.BTW - Network is must viewing. One of the best movies ever made. Although it was made in
the 1970’s its message is more important than ever.
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