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To: AH who wrote (71961)	6/18/2001 9:10:36 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 116814

Reminescences of a stock operator' by Edwin Lefevre Excellent book, I have it on my bookshelf. You can go farther back in time and read Charles Mackay "Extraordinary Popular Delusions and the Madness of Crowds," or go forward to Jim Dines "Mass Psychology." All excellent IMHO! ---- The biggest thing I've noticed in the last, say, 5 years is the extremities that are present in the markets. How one stock can be in favor one minute and not the next, when a company met analyst expectations and yet would just get hammered for not exceeding it. How one sector can be in favor one minute and not the next, we went from having a "glut" of oil to an energy crisis in two years. I've also noticed that the increased usage of the French language when writing comments about the economy is indicative of a recession, sad but true. Anyway, with Chretien "lassez faire" attitude towards inflation, it's prudent to be holding the yellow stuff, n'est-ce pas? Salut mon ami Francois P.

To: AH who wrote (71961)	6/18/2001 10:17:28 PM
From: gold$10k	Read Replies (1) \| Respond to of 116814

A few quotes from 'Reminescences of a Stock Operator' by Edwin Lefevre... “Stocks are manipulated to the highest point possible and then sold to the public on the way down.” "Nowhere does history indulge in repetition so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics, the one thing that strikes you most forcibly is how little either stock speculation or stock speculators today differ from yesterday. The game does not change and neither does human nature." “The big money was not in the individual fluctuations but in the main movements - that is, not in reading the tape but in sizing up the entire market and its trend. In a bull market your game is to buy and hold until you believe that the bull market is near its end.” The latter is exactly my plan now (except for a little trading around the edges) <g>. vt