YZ, >>>GHARIB: Let me ask you this. You always tell me it's no fun being a bear. FLECKENSTEIN: It's not. <<<
That just about sums it up. The philosophy is bad on so many different levels. You think its about truth - but it is not. For most people who practise it (not all), it is about negativity. It is used to hurt oneself and others in a passive aggressive sort of way.
For most people (with the possible exception of Michael Burke and a few others) you can't make any money being a bear. You make fun of people who invest in Dell, Gateway, HWP, IBM and INTC - but those 'stupid people he, he, he' have been making money on those companies for years and years. And, all the smarter than average bears are <gggging> and he he he-ing and predicting the great collapse which is always just around the corner.
And I agree. The market will always go too far, one way or another, and there is always some type of correction. But, the point is, most of the bears here (with the possible exception of Michael Burke and a few others) will not benefit. They will have sat around for years with dead money - and will be lucky enough to have 10 or 20 puts on some overblown stock - but will never make any real money. They will elaborate ad nauseum the success and thousands of percentage point gains on these few puts they were lucky enough to hold at the time.
In the same way - most so called 'bears' will live the life of a bear. Meaning - they will have this philosophy spill over into their private lives. i.e., 'seeing and telling "THE TRUTH" '.
They will go around telling mothers how ugly their babies are because it is THE TRUTH .
They will tell kids not to go skiing because they will fall and hurt themselves.
In the meantime kids with a positive attitude will go skiing, fall, get hurt, pick themselves up and do it all over again. A few of them will get hurt and get hurt badly - some will even die.
But the bear kids will be watching and commenting and glow when another kid gets hurt - but miss out on a lot of fun.
Regards,
Mary
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