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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: JF Quinnelly who wrote (7102)8/23/1998 11:00:00 PM
From: wooden ships  Read Replies (1) of 42834
 
J.F. (and Pete)- In re: "Calling the bottom in August '82 was a
great call. You tend to forget how much fear and negativity was
around back then, always the case at market bottoms when
people have had their accounts devastated."

As related heretofore on this thread, I do not think I shall
ever forget the garden party I attended on the Sunday follow-
ing the bottoming of the market on 12 August 1982. A copy of
the New York Times business section lay on a chair. The head-
line read, "Wall Street Is a Basket Case" or similar. To the host
of the party I quipped, "Jack, that kind of headline usually means
it's a good time to buy."

Did I follow my instincts as regards the profound depths of
pessimism afflicting the markets at that instant of history?
In a word, no, much to my eternal regret.
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