Cool post 216.46.231.211 - I love the fourth paragraph - sums it up quite nicely.".... To get off on a tangent, I see the stock market as doomed. If one believes, as I do, that markets have more to do with psychology than reality, that perception is more important than facts, then certainly investor psychology will only worsen as events unfold. Pardon the language, but you are only a virgin once. Confidence and integrity, once lost is impossible to regain. First, investors learned that some of the Wall Street analysts were simply shills and touts, without integrity or any prescient ability in the market. Secondly, investors were shocked to hear to learn of the fraudulent practices of some accounting firms, who completely shirked their responsibilities to uncover corporate misdeeds, and who were happy to conspire with corporate management for the benefit of a large fee. And then, you have news of corporate scandal after corporate malfeasance hitting the markets. Add to the recipe the fact that, since early 2000, the DJIA is down about 32%, the NASDAQ down 81%, and the S&P's down almost 50%, and one can sense that all hope is gone for a vibrant long-lasting recovery. Even if the economy begins a substantive turnaround, the damage has been done to the equities markets. Confidence has been destroyed. ...."
mike ho ho ho |
