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To: Robert Rose who wrote (100792)4/14/2000 4:13:00 PM
From: GST  Respond to of 164684
 
Robert: <Their psychological experience in the stock market so far has been one of reward, which, in turn, has bred overconfidence.

``One of the most robust and famous psychological biases that people are subject to is overconfidence,' said David Hirshleiser, finance professor at Fisher College of Business at Ohio State University. ``They picked a stock and it went up and that reinforced the view that they were smart stock pickers. They learned to overestimate their abilities.'>

This is not a great day for the bears -- bears have been humbled in the past. The bulls will now have sense of the contribution of luck to their success -- bears should reflect on this and not think they are too smart either.



To: Robert Rose who wrote (100792)4/14/2000 4:16:00 PM
From: Si_Detective  Read Replies (1) | Respond to of 164684
 
Yeah, I wonder if all these bears are too busy celebrating ? We should see flood of post from them today. Well, what can you say, it's a well deserve week for them after this many years. I bet we'll see that lady bear is going to show up on TV tonight, this time with a big smile. :)



To: Robert Rose who wrote (100792)4/14/2000 6:49:00 PM
From: H James Morris  Respond to of 164684
 
Robert,
Who are they talking about?:-)
>>``It's been like a gigantic game. I think in recent years investors have made their decisions based on what everyone else is doing. Everyone has followed one another into this belief in a new paradigm, a new economy,' he said.