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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: Elsewhere who wrote (1418)	3/8/2001 2:44:29 PM
From: ahhaha	Read Replies (1) \| Respond to of 24758

NYSE and DOW are near all time highs, so it's only the mad speculating public that his been burned, so far. You won't get any righteous indignation until the dinosaurs hit the KT Boundary. I'd say that just about everyone knew it was absurd, but what could you do, stand on the sidelines for 5 years because the stock market was wrong yet again? If you did that, by the time you returned, you wouldn't know how to play, and you would be all out of shape. The upside persisted for so long that no one had a choice but to participate somehow, if they intended to be involved in the future with stocks. Was it so difficult to sell on the way up? The so-called bull market was impossibly difficult to manage. You had to be in a mutual fund or you had to buy absurdly priced stocks which would find an even more absurd higher level. Small companies mostly did very poorly. What do you expect out of high taxes and extremely loose monetary policy but big institutions moving this money into the group think officially designated issues. The fault lies 100% with the FED and 105% with Greenspan, because he doesn't think money supply matters and justifies the explosion of money that comes from demand management interest rate targeting by pointing to WinXXX productivity.

To: Elsewhere who wrote (1418)	3/10/2001 11:43:30 AM
From: Elsewhere	Read Replies (1) \| Respond to of 24758

A short history of financial euphoria John Kenneth Galbraith, 1990, ISBN 0-14-023856-5 amazon.com A good read last night. The Berkshire Hathaway 2000 Annual Report is out. Just one year ago Warren Buffett was ridiculed for having missed the tech train. Only one of many examples: Saturday, February 19, 2000 Warren Buffett's vanishing value Tech aversion has left value investor behind the curve Paul Kedrosky, National Post nationalpost.com [The link no longer works, article available on request.] One year later, the NASDAQ has declined 60%. Not so BRK: the share price has nearly doubled, profits per share climbed 113% in 2000. It's fun to read the Annual Report: berkshirehathaway.com It contains an explanation of the IBT (the "Inefficient Bush Theory") and many other interesting comments. Berkshire is now up 207,821% since 1964 vs. the S&P 500 increase of 5,383%.