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

To: Archie Meeties who wrote (28773)	4/24/2000 5:22:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 42523

you are not serious i hope. most people are barely distinguishable from fence posts intelligence-wise. certainly driving the NAZ to an average p/e of 240 at its high wasn't accomplished by applying rational thought to investment decisions. i would dearly love to ask a bunch of average 'investors' (read gamblers) a few simple questions regarding their understanding of financial and economic matters. i bet you blank stares would be the rule, not the exception. i don't want to sound elitist, mind you. but i'm convinced that most people have not even the foggiest idea what they're doing when they're buying stocks. although people's level of general market related knowledge is probably better than it used to be since the stock market mania has become so central to the US culture, a quick scan of e.g. the stock specific threads on the YHOO message boards leaves one with the impression that a herd of completely mindless morons has been let loose. what's more, most of the fund managers working today have never seen anything but a bull market. they have been trained like Pavlov's dogs...since fund inflows were large, i guarantee you they will buy in size on a benign ECI, regardless of the trend in inflation fundamentals. this isn't a normal market...it's a casino whose patrons have just about the shortest attention span imaginable.