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To: JC Jaros who wrote (36527)	10/15/2000 1:50:05 PM
From: Skeeter Bug	Respond to of 64865

in the long term everyone is dead. ;-) jcj, i'm not talking about economists. i'm talking about basic economics. things like opportunity cost are currently "pffft" as you say. NEVER in the history of the world has "pffft" mentalities stayed in tact. you're position is "0-fer" let us get some context here. was the run up in 1929 a good time buy or hold? how long did it take for folks to recoup losses if they were fortunate enough to be able to hold through the depression? how many people kept their portfolios 100% intact during the great depression? valuations in 1929 were less than now. how many millions of people died before they reached "par" again? what about japan in 1988/1989 when the nikkei was hovering around 40k? was that a good time to buy? is ten years long term? if so, why is the japanese market down 50% over when the long term is always up? i'll give the buy and hold concept some credit. it removes much of the thought process out of investing. this benefits certain personalities. NEVER, in the history of the WORLD, have valuations like we have now represented a buy or hold situation except over the short term. after the short term - DISASTER. every time. if you dispute this, back it up. one example. i'd love to hear your answer. actually, i already hear it. "this time is different." it better be, 100% of previous times eventually led to disaster.