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Strategies & Market Trends : Massacre on Wall Street
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To: Cynic 2005 who wrote ()1/26/1999 2:09:00 PM
From: accountclosed  Read Replies (2) of 92
 
I will make a somewhat different contribution...

The Massacre on Wall Street is already going on...It's not the decline in prices that will cause all the damage, it is also the errors in allocation that people are making with the market at these levels.

1. People believe in the gains that they have and are spending money that they can't afford to spend. In the end when stocks come to reality and not everyone can cash out, people will find they haven't saved enough for their retirement and should have saved some of the money they are currently spending.

2. Capital which is a precious resource is landing in weak hands of people selling dreams that will never come true as weaker and weaker ipo's go public. Those "entrepreneurs" will not make effective use of the capital.
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