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Pastimes : Ask Mohan about the Market

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To: tekgk who wrote (16808)10/20/1998 9:35:00 PM
From: tekgk  Read Replies (1) of 18056
 
Some related quoted from Greenspans Berkley speach:

“The same enthusiasms and fears that gripped our forebears, are, in every way, visible in the generations now actively participating in the American economy. Human
actions are always rooted in a forecast of the consequences of those actions. When the future becomes sufficiently clouded, people eschew actions and disengage
from previous commitments. To be sure, the degree of risk aversion differs from person to person, but judging the way prices behave in today's markets compared
with those of a century or more ago, one is hard pressed to find significant differences. The way we evaluate assets, and the way changes in those values affect our
economy, do not appear to be coming out of a set of rules that is different from the one that governed the actions of our forebears.
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