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To: dwight vickers who wrote (1168)5/20/1998 6:37:00 PM
From: Don S.Boller  Read Replies (1) | Respond to of 8010
 
dwight: "betterread Jesse Livermore's memoirs"..................
Suppose you are referring to REMINISCENCES OF A STOCK
OPERATOR, by Lefevre...(My favorite book on the market BTW).
Best,
Don



To: dwight vickers who wrote (1168)5/20/1998 6:40:00 PM
From: Ray Hughes  Read Replies (2) | Respond to of 8010
 
Hello Dwight,

I stood by the trading room windows high above 42nd Street that October, '97 day and said to the hang-dog faced, young trader chaps "don't jump, the public's not in this market. Consumers won't lose money so they'll keep buying cars and houses so the economy is ok, companies are generating good earnings, and stocks will look real cheap soon. Wait three months and buy heavily." The young Brit ex-pats (James Capel) sadly uttered " its all well for you to say, but you don't run the risk of being sent back to a flat in London."

Remember, Dwight, that was a 1,000 point down day, adjusted for the then level of the DOW.

Only this time the public is in equities up to the hilt and in hock up to the hilt. A little jiggle in the DOW could bomb the US economy and, in turn, the economies of major exporters to the US, e.g. Canada, Mexico, Taiwan, Singapore, Philippines, Japan, etc., etc. Dominoes!

The trading rooms closed, the ex-pats packing, the financial inflation popped, the Hughes will be sunning on the foredeck in sunny Sicily reading Socrates, Contrarian Investing, Dante, Reminiscences Of A ..., Hobbs, Options As A Strategic Investment, the Good Book, Shakespeare....

RH