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

To: Jack Whitley who wrote (20919)	3/10/1998 8:52:00 AM
From: dwight vickers	Read Replies (2) \| Respond to of 42771

I didn't say the Nikkei was down 90%. Their mutual fund assets had dropped by 90%. Nikkei dropped 65% at its worst. Still down 57% 9 years later. Same situation occurred in the US after the previous (much more restrained) mutual fund bubble ended in 1968. The bear markets in 1970 and '73-'74 saw some of the most popular mutual funds of the day go out of business after going down 75-90%, and watching what was left of their assets flee. Of course someone is holding shares at the bottom. Usually those who really fell for the "stocks will only go up over time" story. Ride it all the way down. The others who sell on the way down retain some of their capital but have sworn off the stock market by the time it bottoms. Buyers anywhere near bottoms are the contrary thinkers. And many of those wise people are either too early, or too late. Keep in mind that the rhetoric at bottoms is as overwhelmingly negative as it is positive at tops. Investors are told to be fearful, and they are. It becomes impossible for them to buy. The market is always capable of "going much lower". The average Joe Public is not meant to, and never has, made money in the stock market. Current bull market excluded of course. Investors are much better educated today than ever before. Faint giggling fades to quiet........................ Dwight