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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (7993)	8/23/1999 6:03:00 AM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 15132

Ian: Re: "It's so much nicer to be seduced by the thought that one is obviously much more brilliant than the 50 million investors who have bid stock prices up to bubble territory; and to also believe that one is also sufficiently brilliant to know exactly when to get back in - the point at which those 50 million now irrationally depressed investors are about to simultaneously reenter their manic phase." I don't believe I am smarter than the entire market when the market is always right no matter what at any point in time. But this does not mean I want to participate in a market that is dominated by the greater fool theory which is exactly the market environment that you describe above. If you earn gains in such an environment and never give them back to the market in your lifetime, then you deserve them because you have certainly assumed a greater risk than what I am willing to assume to earn them. Re: "I don't know that Brinker or other timers hold much sway lately." One would be wise to attempt to learn Brinekr's model and confine one's criticism to it.