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To: Road Walker who wrote (172372)1/3/2003 5:11:16 PM
From: Jim McMannis  Read Replies (1) | Respond to of 186894
 
I really wasn't trying to figure out what the average Joe should do, just what leads him to slaughter. That was your extension.

RE:"It's interesting that at the market top, trading as a strategy was dismissed as crazy, buy and hold was the only thing to do. Now that the market has had a record retreat, and buy and hold may make the most sense, it is the strategy that is slammed. People always think wrong at market tops and bottoms."

Ain't that the truth. Hey, maybe we are near a low in Tech? <G> No one wants it. Near a top in RE, everyone wants it.
One thing I have learned is that true bubbles can extend well beyond our wildest dreams. I never thought they would pump the market that high or RE this high.

As far a diversification. I remember that going out the window too when the NASDAQ got pumped. Anything but Tech and you were called a Moron. So goes the danger signals.

Now, anything but Real Estate and you're a Moron. Gold is getting there but not yet at "you're a Moron for buying anything else" status.

Jim