Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: the_wheel who wrote (106524)	6/4/2001 9:42:44 PM
From: pater tenebrarum	Read Replies (1) of 436258

well, i agree that the 'greater fool theory' is operative in today's market...so is the 'it can't get any worse theory' (see for instance re. semi stocks: schaefferresearch.com ) and so is the belief in the Greenboink put - that is probably the single biggest motivator inducing people to pay ridiculous multiples for stocks - they expect to get bailed out in case things go wrong. i'm not sure if admonishing your portfolio to go higher in value really helps...i think that's highly unlikely. another cliche at work these days is the 'slope of hope', which is in essence the opposite of the 'wall of worry'.

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