Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Wyätt Gwyön who wrote (6549)	8/3/2001 5:49:52 PM
From: Dave	Read Replies (2) of 74559

Mucho Maas, not to interrupt all of the posters rushing in to pat you on the back, but I have to disagree. In previous manias, the biggest problem investors faced was TOO MUCH imagination. In every investment mania, including the 20's and the 90's, but also during the Railway Bubble, Canal Bubble, the and South Seas Bubble, many people invested in pie-in-the-sky concepts with precious little basis in reality. They threw money at Hot Ideas, from wireless Internet refrigerators and streaming video pet monitors, to secret Inca gold mines and pneumatic package delivery networks, and forgot about that ever-so-important detail, Price. The Depressions and recessions that follow Speculative Manias results from the rapid disappearance of the sheer volume of money that is thrown willy-nilly at imaginary business models. The lack of imagination on the part of investors is overcompensated by the shameless reality-distortion fields generated by the hucksters and con artists who are more than willing to run off with their investment dollars in exchange for telling a Good Yarn. Dave

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