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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (5044)	1/29/2000 12:47:00 PM
From: KyrosL	Read Replies (1) \| Respond to of 42523

It's an amusing piece, with some truths and a good deal of falsehoods. eom

To: Lucretius who wrote (5044)	1/29/2000 4:02:00 PM
From: re3	Read Replies (2) \| Respond to of 42523

when i read this i think of the line from the wonderful Curtis Mayfield : "Now our lives are in the hand of the pusherman" ...oh my... from goldeagle : A PREVIEW OF THE IMMINENT BEAR MARKET (MotherGoose) Jan 29, 15:37 I am worried. I am worried about the many millions of retirees, who are living off their investments in mutual funds. I am worried many other na‹ve retirees have taken out Home Loans to 125% of equity they have in their abode - FOR THE SPECIFIC PURPOSE OF INVESTING IN WALL STREET STOCKS. Worst yet, some retirees even leverage more by buying stock on 50% margin. They have been drawn into a false sense of security or safety, because stocks have been rising relentlessly for so long that they have forgotten stocks can also fall... and fall hard. 1969-70 Bear Market Many older folks have an inordinate amount of their total nest egg in mutual funds. Unfortunately, they feel "safe" in mutual funds due the seemingly diversification of investment portfolio. Hence, these soon to be hapless investors are "convinced" that a mutual fund cannot fall much, and certainly can't fail. They rationalize any looming danger by parroting the glib Wall Street spiel of "being a long term investor. OH Yeah!!!! Well, just take a look at what happened to the TOP 6 MUTUAL FUNDS of 1968 during the 1969-70 Bear Market. Incredibly, 5 out of 6 are NO LONGER IN EXISTANCE. But let's take a closer look at the devastation of the TOP 6 MUTUAL FUNDS. The Top 6 Funds of 1968 - 1968????????????....?..1969-70..Exists Rank??..?.F U N D??????. BEAR???Today #1??.Neuwirth Fund???...???-52%????No #2???Mates Investment????..-77%????No #3???Gibraltar Growth?????.-65%????No #4???Insurance Investors???-38%????No #5???Pennsylvania Fund????.-73%??.Yes #6???Enterprise Fund?????..-57%?.??No ------------------------------------- ??????.?Average Fund Loss?.-61% These horrific losses were suffered within just 18 months! Anyone who ignores traditional market valuation standards, and feel complacent with their mutual fund investment will indeed rue the day they turned a blind eye to financial history. The IRRATIONALLY EXUBERANT MARKET EXCESSES bodes ill for all Wall Street stocks? and the mutual funds containing these stocks. And will the "omniscient" and "omnipotent" Alan Greenspan muster a group of Wall Street Bankers to bailout the hapless retirees who will have lost their homes through default of Home Equity Loans - just like Greenspam did for the LTMC? HELL NO, he won't. The poor retirees are TOO SMALL TO HELP.