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


To: Archie Meeties who wrote (34986)5/23/2000 9:47:00 PM
From: pater tenebrarum  Read Replies (2) | Respond to of 42523
 
very nicely put...i nominate this post for inclusion in the clown-thread post pantheon if there is such a thing.

needless to say, i agree 100%. i have mentioned this on MDD as the NAZ was hitting it's highs..namely that the ultimate fundamental of the market is human emotion, and that at the highs decades of growth will be priced in, in one euphoric moment of complete suspension of disbelief.

i also used to insist that the mania would go further than most people would think possible...and it easily surpassed what i myself imagined to be possible w.r.t. the NAZ.

this really has been the biggest investment mania of all time...with the possible exception of the Dutch tulip bulb craze, which probably will remain unsurpassed in terms of sheer madness.



To: Archie Meeties who wrote (34986)5/23/2000 10:02:00 PM
From: Lymond  Respond to of 42523
 
That will take years, if not lifetimes.

Or perhaps a much shorter period, until the next episode. The history of markets shows that reason periodically intervenes, and excesses are corrected. The question always is how long this correction takes, and what damages are incurred in the meantime.

Nice post.