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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Sea Otter who wrote (100517)1/16/2008 5:31:57 PM
From: SouthFloridaGuyRead Replies (2) of 306849
 
Forbes post-mortem 1975:

"The Nifty Fifty appeared to rise up from the ocean; it was as though all of the U.S. but Nebraska had sunk into the sea. The two-tier market really consisted of one tier and a lot of rubble down below. What held the Nifty Fifty up? The same thing that held up tulip-bulb prices long ago in Holland - popular delusions and the madness of crowds. The delusion was that these companies were so good that it didn't matter what you paid for them; their inexorable growth would bail you out."
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