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To: tekboy who wrote (44965)7/27/2001 9:37:36 AM
From: Sawtooth  Respond to of 54805
 
<<My friend was shocked, and asked how that could have happened seeing as the guy had called things bang on all during the height of bubble and afterwards. The journalist replied, "what do I look like, crazy? these things were going up several points a day, again and again and again. It was obscene! who could resist?">>

Great story. I asked my broker recently if he had many clients that sold out near the top. He replied to the effect that many had "called the top" and liquidated. But sitting on the cash drove them crazy and they almost all dove back in full-force before the crash.

.......VVVVVVVVVVV



To: tekboy who wrote (44965)7/28/2001 9:46:01 AM
From: Knighty Tin  Respond to of 54805
 
Tekboy, Great post. However, I would change the blurb on the SI HomePage from "Even the pros got caught in the bubble" to "especially the pros got caught." The majority of pro money managers, journalists and pundits get caught up in hype even more than the general public, many of whom retain their common sense or at least temper their enthusiasm. Pros often cannot see the forest until they are crushed by the falling timber. <g>