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Pastimes : Starbucks SBUX

SBUX 88.88

+0.8%

Jan 9 9:30 AM EST

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To: SONAR who wrote (16)	8/7/1996 3:19:00 PM
From: Sturgeon	of 148

Henry, How do you account for any pyramid scheme? It's all psychology. In a different time people probably wouldn't go for it. There's a degree of recklessness today that only comes about after a long bull market like we've had since 1982. Interestingly, this same type of scam was very popular in the late 60's at the top of that bull market. It was called the conglomerate era. Eventually, it all crashed down to earth and a big bear market followed in the early 70's. People who buy SBUX now are counting on a long term continuation of reckless behaviour by other investors. It doesn't seem to me like a safe way to invest one's hard earned money. And to answer your question, yes I do hate when that happens!

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