Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: orkrious who wrote (268456)	11/22/2003 1:28:50 PM
From: mishedlo	Read Replies (2) of 436258

in the world of finance and economics, confidence increases with data... If stocks go up one year, people are happy, but not confident. If they continue to go up...year after year...confidence increases with every passing year. Thinking scientifically, they reason: if stocks have gone up for so long, odds are that they will continue to go up. As confidence grows, the odds become exaggerated, skewed by emotional inertia. Unpredictable by real science...risk is under-priced. Eventually, a collapse comes, as it always does. It has been a long time since the world's money system - or its reserve currency - have fallen apart. The event happens so rarely, it is practically unimaginable to most investors. They believe the current system will live forever. Consequently, insurance against its demise is extremely cheap. We don't know, but it may turn out to be one of the best investments ever made...when the funeral is finally held. financialsense.com

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