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Pastimes : The Philosophical Porch

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To: Rarebird who wrote (5598)	4/16/2010 1:06:05 PM
From: Crimson Ghost	Read Replies (2) of 26251

The market has never been fair, but today it is less fair than ever. During pre bubble era bull markets, folks could make money via long-term investing. But only fools play that game today. The name of the game is hyper-active trading where average folks are hopelessly outclassed by Wall Street computers. Too bubble era P/Eratios are much higher on average than they were in pre-bubble markets, further hyping risks. To the extent that the public is participating in the current rally, they are doing so more out of fear than greed IMHO. Fear that they will not be able to retire with any kind of a decent living standard unless they play a game which will devour most of them in the end.

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