re: foolish speculation.
Hmmmm....you are right but perhaps not talking about the same thing I am. What I was referring to and what the fellow I quoted was referring to is the *accounting* fiasco messing up the markets now, even for companies which might have no accounting problems. The economy was actually looking like a recovery was on the way, and then the market got hit with ENE. This fellow believes we probably will get thru the crisis of confidence OK (and with better accounting!).
As for speculation in the NAZ, .....it looks to me like most but certainly not all the speculation has been wrung out over the past two years, because (in my view),the strong ones have survived, while many former high-flying stocks with no earnings got crushed. --EXDS, PSIX, MSTR, dotcoms. A ton of speculation got washed out with those names alone.
Noticed last week that across the street from Microstrategy headquarters is a shop I'd never seen before, called the Art & Jewelry Exchange. One of the services it provides, according to the sign, is "collateral lending" (fancy name for pawn shop). It couldn't have selected a better location and probably doing brisk business with a needy stock-optioned clientele. |
