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To: chomolungma who wrote (173265)	3/5/2003 12:14:18 PM
From: Charles Gryba	Read Replies (1) \| Respond to of 186894

chomo, I'll tell you a story about a person I know very well personally. Sank 2/3 of his cash into the market near the top. Used it as collateral for business loans. When his business did not make the anticipated cash flows and the market collapsed the creditors came calling. End of story, he had to liquidate his stock holdings at huge losses, lost the business since he had no more capital to make it through the bad times. Bad timing at its worse. We're talking about total losses of around 10 million, the guy is bankrupt now. C

To: chomolungma who wrote (173265)	3/5/2003 3:50:07 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 186894

RE:"Tell me again, what's wrong with long-term investing?" Certainly I don't have to bring a chart out. It does depend when you bought of course. RE:"And please don't tell me about that hypothetical chump who sunk his entire fortune in the market just at the top." Well, I do know many people who saved their whole life and then bought near the top and lost it all. After all, their broker told them to "be in for the long haul". Whipped out the 'ole 9 per cent a year on average crapola. You have to realize that all that volume that drove the market up had to come from somewhere. Much of it was new investors so the idea that some average Joe was as likely to invest in say 1990 rather than 2000 is simply not true. The new bubble is Real Estate, look out. And don't think that everyone will be able to sell their house and stick the money back into the stock market. Never seen a bubble yet end in a soft landing. This country has had about a good 28 years of flawed internal and external policy and now it's hitting the fan. Jim