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

To: GraceZ who wrote (13412)	1/14/2002 6:51:07 AM
From: smolejv@gmx.net	Respond to of 74559

I agree on more or less all counts - just musing... >>large number of naive investors created cheap capital << it was not cheap from perspective of J6P's expectations ("I dont move a finger if the stuff does not give me a return in the upper double digits..."). What about the comments here re goodwill write-downs ("this has nothing to do with the company's cashflow, so it should not have any impact on the earnings" etc etc)? The poker chips, put in the hands of new-age Cincinnati Kids ("Im Number one and Im out to prove it") by the hopeful believers, they cost real money. And the malinvestment will cost job places, the retirement dreams of the baby boomer generation, Antebellum dreams come true etc. Otherwise I dont see any difference in terms of crowd psychology, compared to tulips times. Except the characterictical turn-around times. Tulips? One round voyage of a month or two. Nowaday's? I'll never forget Bob (no extra telling names). Two kids, wife working as a nurse, he a day-trader. His only dream was to get a (satelite? dont know) hook-up with the turn-around time of "less than 2 seconds". Quite probably he cost his wife a farm, and his kids their education I guess. On Soros and his reflexivity - tempora mutantur et nos mutamur in illis - times are changing, and we are changing with them. Dialectics of wisdom and knowledge-in-the-making.