One of the best displays of ignorance that I've seen...

For a good laugh or cry......

Current Forbes Magazine Article...Greater Fools

-- PJC (paulchri@msn.com), October 05, 1999

Answers

Yes, my friends, Y2K will HELP the market.

PLEEEEEEEEEASE SELL ALL STOCKS NOW, FOR THE LOVE OF GOD!

-- PJC (paulchri@msn.com), October 05, 1999.

YOU need to buy Telecom Italia...

-- PJC (paulchri@msn.com), October 05, 1999.

What we NEED to do is put all the pointy-haired imbeciles like that TO DEATH. (preferably a long, drawn out painful affair, which they beg for mercy long before insanity tears their mind out, ripping the very humanity from their tormented souls.....HHHAAAAAAHHAHAHAHAHA.......oh....sorry....'scuse me..

-- Billy-Boy (Rakkasn@Yahoo.com), October 05, 1999.

Wall Street Journal August 20,1929

"...the outlook for the fall months seems brighter than at any time in recent years."

September 1929, self proclaimed market guru , Econonmist Irving Fisher

"There may be a recession in stock prices, but not anything in the nature of a crash."

credit Vronsky Blue Skies and Market Blues

also "famous last words of a fool"

David Alan Coe?

-- Johnny (JLJTM@BELLSOUTH.NET), October 05, 1999.

Buy BANK and TELECOM stocks?? Aren't these supposed to be the industries that may take the biggest hit if we have utility outages, much less computer glitches? This guy really, really doesn't get it. Y2K is NOT factored into the market, because there is not enough clear, reliable, honest data coming out of corporations for investors to examine. If there was more data, the market would have crashed already, and we wouldn't be reading this guy's out-in-left-field article today!

-- KLL (mustBkidding@foolish.com), October 05, 1999.

If you were to somehow combine the worst of Decker and Hoffmeister, this is what you would come up with. Decker's "free market forces" magically controlling things, along with Hoffy's statistical ooze that "proves" that you can't have a known future problem if you are not having the problem currently.

-- King of Spain (madrid@aol.cum), October 05, 1999.

This guy seems to really be espousing the greater fool theory. Basically, that is to ignore market fundamentals on the theory that somewhere there is a greater fool who will pay more than what you paid, thereby generating a profit for you (and your stockbroker). It is never a good idea to ignore market fundamentals...

(It would also be interesting to look at the German and Japanese stock markets circa the 1942 time period that he is examining so closely. One could posit that they were also rising...but that the net end result was not so rosy!

-- Mad Monk (madmonk@hawaiian.net), October 05, 1999.

Anyone observing today's market activity had to notice the overtures of universal bi-polar disorder. Greedspin is their BuSpar. What me raise rates? Duh.

-- Gia (laureltree7@hotmail.com), October 06, 1999.

Go back to Fisher's site and read the rebuff by Robert Magnus......ol' Bob sure did set him straight.....

-- Bobo (blechhhh@aol.com), October 06, 1999.