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To: AllansAlias who wrote (4996)	7/21/2000 11:28:19 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

Allan, just as portfolio insurance had unintended and completely unexpected consequences in '87, i suppose our modern day contraptions from derivatives to internet trading will have surprising consequences as well. the increase in volatility, the short holding periods for stocks and the enormous trading volumes all hint that the guy with the horns and the pointy tail is waiting in the wings some where. in case you didn't catch it yesterday, a very interesting state of the mania update by Alan Newman came out: cross-currents.net note especially the size of stock market activity vs. the total economy...