Tim,
what big crash were you talking about? Monday? That was just a single digit fluctuation in terms of percentage.
I think the "herd" is still listening to the likes of Abby J Cohen and Joe Batagalia who will sell ice to Eskimos. I am willing to bet that if you give the average investor the map of the world, over 90% would not be able to point out Korea, Thailand, Russia, Columbia, Malaysia, Japan ..... correctly. Most have heard of some trouble in those countries but I doubted if most can give you a simple summary of the problem.
They also believe the BS that Clinton, Rubin keep selling about economy being strong, interest rate low, business doing better than ever, unemployment low ..... Chicken Little says that was yesterday, what about tomorrow's outlook?
When the truth comes out with this quarter's earnings and forward statements, then you will see the crash. On the other hand, if this quarter proves to be strong and forward statements rosy, I will be wrong and have to eat my shorts.
Ramsey |
