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Politics : Formerly About Applied Materials
AMAT 267.87-0.6%Dec 5 3:59 PM EST
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To: MileHigh who wrote (20340)6/14/1998 1:35:00 PM
From: Hank Stamper  Read Replies (2) of 70976
 
MileHigh wrote: "When do you see people pulling money out of the market? Well, I see it happening when all the boomers and tweeners will NEED to start taking money out of the market as part of a pre-retirement diversification program. This will be many years form now."

Oh I dunno on this one. I will NEVER forget the absolute and overwhelming FEAR I felt in October of 87--the market crash. I was personally panic stricken and simply wanted out of the market 'because there was surly a long term and deep bear market leading perhaps to a depression.' It did not happen that way because the underlying fundamentals were still okay but my point is that I am a boomer and all that such entails and, the Madness of Crowds was a popular delusion for me that day.

I'm older now and much more experienced. What would I do in a similar circumstance? I dunno. From what I experienced and saw in others that day, I think we'd be naive to think the 401K (RRSP--in Canada, my country) flow wouldn't reverse. I am certain it would and that it's withdrawal from the market would fuel a bear market. It's not the source of the money, it's the psychology and the Crowd has not changed.

Tulips are, after all, just that.

Regards,
David Todtman
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