The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: austrieconomist who wrote (1282)	10/7/2003 8:53:03 AM
From: Silver Super Bull	Read Replies (2) of 110194

AE, RE: "I have been reading a consistent line of posts on your thread (the ones here are very similar) to the effect that "the market is ready to drop like an overweight Sumo wrestler" I'll admit I have posted bearish commentary over on the PBM thread, as well as this one, since this rally began. Basically, all things considered, I think the market was very overvalued in March, and exceedingly overvalued now. Sensing that a mini-mania has been in progress, I have waited until recently to really pile on the short positions. Sure, it would have been profitable to be bullish during this rally. But personally, I can't stand the "Greater Fool" investing theory, where people recklessly throw money at overvalued securities or "junk", hoping/assuming that some other reckless or uninformed investor will buy the stuff at yet higher prices. I have taken some hits to the short positions. However, if I am right as to the levels of overvaluation, and how this rather outlandish situation will be resolved, I'm sure that the returns will be very handsome. DB

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