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

To: BGR who wrote (30263)	4/30/2000 9:16:00 PM
From: robnhood	Read Replies (1) \| Respond to of 42523

OH, Yeah--- Just read a little book by Galbraith-- " A Short History of Financial Euphoria" He says just that--- The guys who make a bunch of dough fast are viewed a geniuses, and soon they find themselves believing it as well.. I will type what he said with my index finger-- here goes-- <<The only remedy , in fact is an enhanced skepticism that would resolutely associate evident optimism with probable foolishness and that would not associate intelligence with the aquisition, the deployment, or, for that matter, the administration of large sums of money. Let the following be one of the unfailling rules by which the individual investor and needless to say, the pension and other institutuional-fund manager are guided; there is the possibility, even the likelihood, of self approving and extravagantly error prone behaviour on the part of those closely associated with money. Ok , I'll give you the next paragraph-- A further rule is that when a mood of excitement pervades a market or surrounds an investment prospect, when there is a claim of unique opportunity based on special foresight, all sensible people should circle the wagons; it is time for caution. Perhaps, indeed, there is opportunity. Maybe there is that treasure on the floor of the Red Sea. A rich history provides proof, however, that, as often, there is only delusion and self-delusion.