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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: tradermike_1999 who wrote (829)	11/21/2000 10:56:56 AM
From: Tommaso	Respond to of 74559

Oh everyone is complacent. The view is, "Down 40%? So what! It will come back, and anyway, it's still way up from two years ago." Did I mention attending a meeting of a chapter of Phi Beta Kappa. The treasurer, a good friend of mine, presented a report on the scholarship fund. The figures were from September 1998 and then September 2000. He skipped 1999. Of course, the fund is way up from two years ago. No one asked a question or raised an objection. Me neither. I am tired of being thought a kook. Meantime, only about 3% of the fund is being handed out in scholarships. Instead, the idea is to "build the capital." I wonder if next year anyone will say anything is the capital is down 25% or more.