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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Cosmo Daisey who wrote (5708)3/30/1998 12:51:00 PM
From: Oeconomicus  Read Replies (2) of 18691
 
Coz, are you seriously arguing that the '29 crash was caused by ten people manipulating the market? I suppose the bull market up to the crash was the same ten guys manipulating too. Get real! Besides, if they were already short the market, who sold in the collapse. The answer is simple - everyone. Just because a handful of people were smart/lucky enough to go short in time does not prove that they manipulated the market lower or controlled the market. The late twenties was a mania plain and simple and it ended as they always do.

Yes, many more people are involved in the market today than in the twenties (or any other time for that matter). Does that mean the mania won't end? No. Perhaps you should also consider the downside to the mass participation in the markets - that the pain will be felt (directly) by more people than in any previous collapse. What will happen to our economy when more people than ever before participate in a bear market? Or, are you saying bear markets can't happen any more either?

Bob
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