Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: GraceZ who wrote (855)	5/7/2003 4:37:29 PM
From: benwood	Read Replies (3) of 4904

When I ask them where they think the stock market is going, they say, "Up, and then I'm getting out for good." I haven't met anybody yet who has gotten out except my father-in-law for the most part, after retiring a couple years ago. Now he's in a real estate fund. My sister just got a 100% mortgage for a vast house and told me that it doesn't matter that they have no equity -- the house will be appreciating like crazy because that's what the housing market does. All but 1 of those I know who've gotten burned have told me they do not open their brokerage statements. What this tells me (and your comments, which are by-and-large correct I think) is that while many people have been burned and feel less secure and more pessimistic, they have yet actually to act on that knowledge. Instead, there has been a great credit card & refi bridge/binge to connect the standard of living from when they were "confident" to when they fully expect to be confident again. I know just one couple who took it in the shorts and then modified their behavior (quick learners I guess). In other words, I think many people are seeing trouble but crossing their fingers behind their backs.

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