Here is the link to the Tocqueville article:

AOL, RCA, and the Shape of Histoy

Ray

-- Ray (ray@totacc.com), January 31, 2000

Answers

Great post Ray.....snip Kenneth Galbraith once said, financial genius is a rising stock market.

-- kevin (innxxs@yahoo.com), January 31, 2000.

Quoting a pre-crash 1929 "financial genius" (forgive me, the name i've forgotten}; "when the guy operating the elevator started giving me hot stock tips, I knew it was time to get out."

-- JB (noway@jose.com), January 31, 2000.

That was Joseph P. Kennedy, patriarch of the Kennedy clan. He reportedly got out of the market about 2 months ahead of the 1929 Crash because a "bootblack" (shoeshine boy) started giving him stock tips. Papa Joe figured that that was a sure sign that it was no place for any man with a lot to lose. His broker thought Joe was a fool... for about 60 days.

-- DeeEmBee (macbeth1@pacbell.net), January 31, 2000.