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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Maurice Winn who wrote (13926)1/29/2002 12:42:28 PM
From: Stock Farmer  Read Replies (1) of 74559
 
Mq - great post.

Of course the conclusion that the newly not pro-forma very rich Hobbits are not poorer is quite true in aggregate.

Looking closer however, in the process of seeking riches, each of those newly-not-very-rich Hobbits transferred hobbits from their bank accounts to the bank accounts of other Hobbits.

So in addition to the perceived evaporation of a market-cap that wasn't there in the first place, there is this very real evaporation of spending power that was there in the first place. Not to mention the opportunity cost.

At least that's how the residents of Bag End might see things :o)
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