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Technology Stocks : Gorilla Game
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To: Mike Buckley who wrote (350)1/21/1999 11:59:00 PM
From: Shane M  Read Replies (1) of 387
 
Mike,

Didn't mean to compare gorillas to the Nifty Fifty. Most of the big cap stocks are not gorillas. Simply a macro observation on my part. Sometimes we can't see the forest for the trees, and my study of market manias indicates that most observers at the time prior to crashes feel that high valuations were justified and absolutely didn't see what was about to hit them.

Manias have symptoms, and concentration of equity in the big brand name stocks like now is very similar to what happened in the late sixties.

OTOH, a recent AAII article showed that if you'd just bought and held the nifty fifty stocks at their peak, you'd still be doing OK if your time horizon was 30 years.

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