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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Mike Buckley who wrote (46121)9/3/2001 2:53:22 AM
From: hueyone  Read Replies (2) of 54805
 
Maybe I'm naive, but I wouldn't credit or discredit Moore & Gang so much as to believe their book so vastly influenced perceptions of investors.

Mike: Perhaps some investors mistakenly lowered their guard after reading these four lines from the manual's introduction:

Far from being independently wealthy, we expect you to have modest capital at the outset and to be deeply concerned about not losing it. As a result, we are going to define an investment strategy that has significant upside potential but that is, at its heart, inherently conservative. That is to our mind the real purpose of the gorilla game---to help private investors participate in the rewards of of high-tech stock gains while standing clear of the market's unnerving volatility. To the degree that this notion speaks to your deepest concerns and needs, you are directly in our sights.

In fairness to the authors, I assume these lines first appeared in the introduction of the original manual in 1998---well before the bubble and its attendant risk had arrived in full force. Nevertheless, Paul Johnson (a Columbia finance professor no less), continued to publicly display an unbelievable disregard for risk of capital loss well in to the peak of the bubble.
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