Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: Knighty Tin who wrote (1167)	1/31/1999 7:44:00 PM
From: porcupine --''''>	Read Replies (1) of 1722

In this weeks Barron's, the ever-caustic (and, so far, ever-mistaken) Alan Abelson has some fun at the Fed Chairman's expense. Greenspan, as quoted in an earlier post, made the unfortunate observation that there must be "something fundamentally sound underlying" the current Internet hype. Of course, this was dangling verbal catnip in front of Abelson's journalistic shnozola. Abelson credits a colleague with the observation that this is akin to saying that the first great financial bubble, Tulipmania, must have been supported by "sound fundamentals". Abelson then spends several graphs facetiously speculating that Greenspan is angling to have the Fed acquired by AOL, to form something along the lines e-Fed, or the like. This reminded me to ask a question I've been meaning to ask for some time: Am I correct in presuming that the first bubble, Tulipmania, was coincident with the first widespread availability of credit for purchasing assets?

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