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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Hopkins who wrote (2234)	8/31/1998 5:22:00 PM
From: Geoff	Respond to of 6439

Here's what I said on the Loral thread: Not a problem, someone's gotta keep their head up, so it may as well be the young moron -- me! I see this as the world's largest margin call, not as bad as the Big D, but a big one. A couple of factors contributed to this: 1) Stock prices went through the roof 2) Small investors were given too much power too fast -- ie, no discipline 3) Small investors thought they understood margin trading -- dangerous to the inexperienced 4) Complete confidence in the US market's continual rise 5) "Hype" from the media You put all these together and you get a recipe for the problems we've encountered here. None of the selling is truly justified IMO, it is panic, emotional selling. What does this mean? It means that when the dust settles, a whole bunch of the little guys are going to find out they are where they were 9 years ago, out of the game with the prices on their way up. And by the time they're back in, whoops, too late. later, geoff