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

To: TobagoJack who wrote (5511)	7/3/2001 5:39:56 AM
From: Maurice Winn	Respond to of 74559

<Looks like my friend Jim stepped on a land mine of NZ manufacture> Jim and I both were wounded [me more so] by the Globalstar explosion. By the way, thanks for the comments on the Japanese real estate, loan, etc swindle. Like you, I think it has some nasty possibilities attached and I'm sure Japanese with actual Japanese money to invest, would have borrowed a whole lot to buy real estate to rent out if it was such an easy-money idea. But it's an interesting commentary on how low interest rates can go and still there is plenty of money to borrow [if the debtor has sufficient collateral and income to support the loan]. Perhaps it's like the situation where somebody spots $20 on a busy footpath but decides it must be fake or somebody would have picked it up already. Undervalued stocks are like that. Overvalued ones are where everyone assumes it's good because everyone else is after them. Gold seems to be like overvalued stocks; everyone disclaims quivering thrills at the possession of it and bases their interest on the fact that OTHER people will always value it so much. That's the greater-fool syndrome combined with 'everyone is doing it so it must be good'. Gold is just another fashion. Fashions change. Some last a long time. Some last a day. Fashion can end anytime, but especially when social systems change a lot [as they have done on earth the past 100 years]. Mqurice