Mike,
Greenspan, Buffet, and others worrying out loud about current valuations doesn't seem to be enough to put a dent in this market. Investors have decided they prefer Maria, Joe and their buddies.
Smile, be happy and you too will get 5% returns daily in DELL, AMAT, NVLS, et al.
The "greater fool syndrome" is at work and its going to take a crash to get it out of our systems. I suspect it's close at hand.
Only in retrospect will we see that the advent of internet trading by millions of people was a major contributor to this greatest of all stock market manias.
BTW, after the crash, when the politicians hold their hearings to lay the blame on someone, do you think they'll blame CNBC for aiding and abetting and maybe even Greenspan for having kept the money faucet on too long.
P.S. I don't know how to link this, but check this out. Somewhat interesting: home.earthlink.net
Best regards,
Dave Walter |
