Post of the Day
November 9, 1998
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Subject: Re: Done deal
On the other hand, Rimpi, it's unbelievable how much you resist seeing how the market really works. This is reality man, and your theory must include it or it is wrong. You know I love ya, but you haven't budged one inch in this amazing run.
Rimpi? That's a new one. Kind of like Ren & Stimpy rolled into one, only Rimpi doesn't care too much for the happy happy, joy joy attitude of investors like you. ; )
|"...I'd rather base my investing strategy on economics rather than psychology. It's much more reliable in the long-run..."|
I guess I'm perpetually living in September of 1929. And what if you had said the above to a bear in September of 1929? That was an amazing run back then too, one that looked like it was never going to end. I suppose that I should include the mania effect in "my theory", but what's the point? The mania effect won't last forever and I'd rather base my investing strategy on economics rather than psychology. It's much more reliable in the long-run, although it's keeping me from having fun at the party in the short-run. Maybe I should just drink up and let morning guy worry about the hangover.
|"My theory included one last major rally before the crash and I think this is it. Last call, folks!"|
My holdings still include under 10% in stock. That's not going to change until we get below 6000. My theory included one last major rally before the crash and I think this is it. Last call, folks! Greenspan is serving the drinks and Mary Meeker is dancing around naked to add to the fun, but unfortunately Adam Smith owns the bar and he's going to be kicking the drunks out.
I got some black coffee over here if you need it. It's kind of bitter, but it'll help wake you up. Don't worry, I'm not going anywhere, not budging one inch -- I'm too stubborn. Some day you'll appreciate that fact. Sigh! Some day...
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