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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: octavian who wrote (42585)2/9/2009 10:37:40 PM
From: Skeeter Bug1 Recommendation  Read Replies (1) of 42834
 
octavian, greed was a major source of the stupidity and irrational stuff people were doing - that's exactly right.

funny how fear makes one much more rational. ;-)

most folks think this is just another recession. way back when the first bailout was being discussed, one guy told me how he made a bunch of money off the banks. i told him to watch it close and sell quickly. he said he wasn't worried - stocks always rebound.

now he won't look me in the eye when i walk past him and i saw him on the phone looking stressed.

it's bad enough to lose all one's money, but it is apparently worse when someone you know tells you to be careful so you don't lose all your money, you reject the advice and then lose all your money within a couple months.

the game has fundamentally changed. the S&P at 450+/- is a very reasonable outcome in 2009.
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