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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Jack Whitley who wrote (20859)	3/9/1998 11:05:00 AM
From: dwight vickers	Read Replies (2) \| Respond to of 42771

Jack, It was the "quality" companies that got slammed the worst in 1929 and 1973. We're talking 75, 80, even 90% here. And no, in many cases they did not come back. The businesses often did fine, but the stocks hit highs that weren't surpassed for decades. Some have still not surpassed those highs. A reading of history makes it difficult for me to be confident about todays "nifty fifty". Jesse Livermore bought those quality stocks when they were off 50% in 1930 and looked smart during the bounce. But the market bought at 50% off in 1930 eventually dropped another 78% from those levels by 1932. When it ended. there were no "long term investors". Just like at the end of every other bear market. I'm not saying that's what we're facing. But "it can't happen today" for whatever the reason, is an imprudent investment policy. IMHO "It can't happen today" has been a great selling point at every top in history, by the way. Dwight