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To: JRI who wrote (123374)9/18/2001 3:36:02 PM
From: Les H  Read Replies (1) | Respond to of 436258
 
People are lulled to sleep by the law of large numbers, and its inverse. A twenty-five point drop in the Nasdaq was a sleepy day in the days of Nasdaq 3000-5000. Now, your mutual fund can drop another 1 1/2 to 2 percent each day on such dull days.

99% of the people are clueless when they call for patriotic buying. They don't have a clue that the foreigners own the market. They don't have a clue that the insiders are cashing out. They don't have a clue that their money doesn't matter anymore, not till the market bottoms.



To: JRI who wrote (123374)9/18/2001 3:37:02 PM
From: sammaster  Respond to of 436258
 
i agree that americans(companies) are more willing to cut costs and take short term pain for long term gain as opposed to the japanese drawing things out....
we still have a long ways down to go though....
and like you said americans have no savings to fall back on so the decline will be severe....


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