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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (318)	12/28/1998 10:26:00 PM
From: EL KABONG!!!	Read Replies (2) \| Respond to of 3543

Auric, 100% short is unacceptable risk to me. Even though I "know" we're at a top, if I'm wrong and stocks continue to rise, the rise could easily outrun my ability to answer margin calls. To me, this is almost exactly the sort of thing that got some of the hedge funds in trouble. Some investors might want to take 10% of their cash and short something, but if they do, they'd better put exit points in there and watch out that the stock doesn't just gap up beyond their exit point before the market even opens. I've been locked out of limit orders like that (CSCO being the most recent). KJC

To: Sir Auric Goldfinger who wrote (318)	12/28/1998 11:22:00 PM
From: Uri Miller	Respond to of 3543

I discovered this thread a little while ago. Truly, it takes much time to decide what date to pick and why the specified index will fall on that day. It was six year ago that I was introduced to the stock market (when I was 11 years old). Nowadays, I manage portfolios for a number of clients. It would be difficult for me to justify if I tried to time the downfall and then short the 'index' on that day. Bubbles can get bigger and bigger. Usually they pop because they get too big. But sometimes, they pop for some external reason, i.e. wind. In my young years of experience, I have seen many bubbles, the Year 2000 stocks, the cable modem/atm stocks, etc...Never have I seen however, such widespread speculation. The Internet message boards are filled with false hopes. There are people who think that the smallest of companies will become the next Excite or Yahoo. It is ludicrous. I hear an echo from 1929...