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Strategies & Market Trends : Roger's 1998 Short Picks
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To: the Druid who wrote (5626)3/27/1998 11:02:00 AM
From: Ploni  Read Replies (2) of 18691
 
Another anecdote: a couple of Sundays ago I was watching a local business show on t.v., and someone called in to ask the host if he should borrow money on his credit cards, and use the 20-day float to make money in the market. The t.v. guy advised against it, because he didn't think the guy could necessarily earn a good return in a short-period of time.

Of course, if the guy on t.v. was smarter, he would have pointed out that the credit card float is only if you buy a product or service. If you get a cash advance, they immediately start charging their 25% interest, compounded hourly, or whatever it is.

But this kind of anecdote demonstrates that many novices have seen that the market just keeps going up, and they assume it always will.
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