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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Smart_Money who wrote (91715)7/5/2002 11:01:06 PM
From: SOROS  Read Replies (4) of 99280
 
That is all the entire stock market has turned into. There is no such thing as investment anymore. First, companies had to start worrying about quarterly reporting. Second, they start using fraud in order to meet the numbers. Gold is manipulated. Rates are manipulated. Money is printed at will. Mutual funds turn their entire portfolios over each year -- some, several times. The people who still think they are investing will be the ones who get destroyed when the whole thing unravels because of the debt. The resulting bear of 10-20 years following the long bull will not spare many before it is over. Since about 95% of all traders eventually lose all their money, that 5% must be on this thread -- or, most here will join the 95% before it's over. All I know is that a country that was founded on hard work and moral principles has developed into one with very few morals and the majority looking for ways to do less work, or get rich quick, and most looking out for #1. This will end like all other dynasties that followed a similar pattern in their morals, their work ethic, and their values. The debt problems from the bottom up cannot be swept under a rug or simply vanish with no pain. Pain is coming. It may take a few more months, but it is assured. Make no mistake about that. Let's hope they hammer gold down below $300 before the funeral march begins so we can get positioned ahead of the burial.

I remain,

SOROS
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