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In the last few years, it seems like a national gambling mania, called "The Stock Market", has swept the USA, driving the prices of some stocks to unsustainable highs.
Now, it seems like the stock market is collapsing, and this thread is an area to discuss what is happening. Given the current market conditions, such as declining share prices, P/E ratios that are still way above historic norms, statistics like how 70% of shares are doing worse than the market averages like the S&P 500 and the Dow 30, Internet stocks that have lost 40-50% of their value since the Spring, and other factors, it looks like being in the stock market right now is a bad idea.
Just to get the discussion going, here's something that will probably annoy people... The stock markets are based on the Greater Fool Theory, which says that someone will be a greater fool than you, and buy your shares for more than you paid for them. But why would someone do that? Do you think that strangers have some sort of obligation to buy your shares at a price anywhere near what you paid for them?
I am sure I there will be plenty of people who will post here, because they have a vested interest in trying to "talk the markets higher" to protect their own share purchases, so the let the controversy begin!!
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