Ask Michael Burke Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Joseph G. who wrote (20414)	7/10/1997 11:59:00 PM
From: Stratajema	of 132070

MB, Joseph G, & fellow Tulip fans. I know you'll enjoy the quote below. I'll be increasing my stock positions as a percentage of my portfolio by 10% over the next few trading days bringing my total stock exposure to a lame 20%. (Yes, really!) "Assessment of the Future If people think that tulips will appreciate at 10% per month, they can be motivated to act so that this will happen. Happen for how long? As far as theory can tell, forever. Even though every tulip mania and stock market bubble has come to an end in history...I have long been struck by the fact, and puzzled by it too, that in all the arsenal of economic theory we have absolutely no way of predicting how long such a (bubble) will last. To say that prices will fall back to earth after they reach ridiculous heights represents a safe but empty prediction. Why do some manias end when prices have become ridiculous by 10 percent, while others persist until they are ridiculous to the tune of hundreds of percent?" Paul A. Samuelson Intertemporal Price Equilibrium: A Prologue to the Theory of Speculation, 1957

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next