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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (2235)	12/26/1999 3:46:00 AM
From: KeepItSimple	Read Replies (2) \| Respond to of 3543

But you're making the assumption that when the time comes for everyone to exit, that everyone will be able to exit at a 1500% profit. In a game of musical chairs, there is only one winner. Everyone else loses. When push comes to shove, I doubt that the 3000% gains in AKAMAI will remain 3000% gains. Your pathetic example of "300% profits will become 270% profits" shows that you've obviously been investing in this market for somewhere between 2 and 3 years. You've never experienced a bear market or serious correction. Having said that, the country IS in the grips of a tech stock mania. I believe it will suck every available penny into its clutches before eventually destroying the concept of capitalism in this country. You see, my dear friend, if every man woman and child can invest their 50 bucks into yahoo stock, and then retire in a few months, what sort of economic system do we have? how do we induce people to work? but those are the sort of questions we'll all ask AFTER the bottom collapses.. dont pay attention to the man behind the curtain..

To: Dale Baker who wrote (2235)	12/26/1999 9:37:00 AM
From: yard_man	Read Replies (1) \| Respond to of 3543

No Dale -- I'm not wanting to see longs get killed -- you got it wrong. I hope you get out with all your winnings intact, but remember this: It is a fact -- everyone isn't going to. What I am saying is two things: 1) Many longs are so firmly ingrained with the idea that stocks always come back that they will not protect their winnings --- more importantly 2) This infatuation with stocks and espcially the policies behind it (the unparalleled expansion of credit) mean very difficult times lie ahead for many who have and haven't participated in the huge "boom." The appreciation in the dollar value of stocks is very real -- the supposed "health" of the economy is a lie. We will be paying for this supposedly wonderful period for many years to come, I think. The real culprits won't be destroyed. But to the extent that the Fed has let credit and money grow without regard for the true growth of the economy they have simply robbed you just as suredly as they broke into your house and removed your possessions. Most folks are preoccupied with their "own bottom" line and making a buck or more keenly on "spending a buck" that they don't think about the consequences. Do you really believe that the welfare of a country's citizens on the whole can improve several times faster than the real economy grows? Sure you can do better than somebody else for a while and I am not frowning on that or your profits, but I'm not stupid because I didn't buy YHOO 1 year ago if it didn't fit my tolerance for risk. I just have less money than someone who did. you obviously have a much higher risk profile than me.