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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Cosmo Daisey who wrote (5748)	3/30/1998 1:33:00 PM
From: Ploni	Read Replies (2) \| Respond to of 18691

Ten people controlled the market, this isn't a guess but a fact. Please name them, and reference your source material.

To: Cosmo Daisey who wrote (5748)	3/30/1998 2:13:00 PM
From: Oeconomicus	Respond to of 18691

You missed the point entirely. It doesn't matter who makes the daily buy/sell -er- buy more decisions, the millions of people who you say have no control actually have all the control. It is their money. Currently, they are putting more of their money in the market than ever before because that's where the best returns have been over recent years and because all the "experts" tell them it is foolish to put their money anywhere else. They are not looking out to 1999 or 2000 earnings and deciding that the future looks so bright that they should buy equities. On the contrary, they are looking back and deciding that the past was so bright they can't afford not to buy equities. Nothing else will do if they all expect to retire at age 50, which BTW is assured because they are putting every penny they can in the market and it will never go down and will always earn then 30% per annum simply because there are so many other Boomers putting money in. What do you think will happen when they find out that the market can go down, that 30% per annum is not the norm, that sometimes bonds or even CDs outperform the stock market? Perhaps they will start talking like they did in the early eighties - "I don't gamble on the stock market" or "I keep my money where it's safe - in the bank". Do you think these money managers you say have all the control can force people to stay in the market when they see their money, their early retirement dreams, evaporating? I don't care about your friend with the six million dollar account who never sold a share. I know that no six or seven figure individual investor has clout in the market alone. But put them together with millions of five figure account holders all reacting to the same realization that economic cycles still exist and that investing in stocks does, in fact, involve risks and I assure you the market will notice. Bob PS: As Charles asked - who are those ten mysterious and all powerful people who "controlled" the market in 1929? I'll go a step further - exactly HOW did they control it? How did they make it crash? No guesses now - just facts.