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> From: "Gerrit Jacobsen" <gerrit.jacobsen@xxxxxxxxxxxxxxxxxx>
>
> Morgan,
>
> > >"The party is still going. But we are trying to dance near the
> > >emergency
> > exit."
>
> > yes, one should, however, be a rationalist first and foremost. The
> > market(s) are behaving this way because we have a large percentage
> > of the population investing as much income as possible in
> > preparation for retirement. They have no faith in the social
> > security system, and as a result, the conceptual distinction between
> > social security and market investing have blurred.
>
> This is exactly the reason why the market will fall. The market is
> designed in such a way to weed out stupidity. A market that is
> continously rising attracts invariably many stupid people who think
> it will continue this way.
>
> However no social system nor nature can afford that stupidity gets
> rewarded.
>
> That is why the market must crash in a big way. It will crash when
> stupidity has reached its climax. This rally will be remembered as
> one of the biggest sucker rallies in history.
>
> If a 10% earnings slow-down at Intel can knock a few billions of its
> market-cap then something is wrong.
>
> If Turner and Gates can give away a few billions for charity then
> something is wrong.
>
> If companies with no revenue can have market-caps of half a billion
> then something is wrong.
>
> If a society can and wants to spend a billion on one film then
> something is wrong.
>
> Shall I go on ?
>
> This is an asset bubble.
>
> Gerrit
The market is always RIGHT !
rgds hans
~~~~~~~~~~~~~~~
Disclaimer:
I know many people predicting the TOP for S&P 500 even when it was
BELOW 500.00 some years ago .....
- If they are still alive they concentrate NOW on:
Selling their systems
Selling their software
Selling their books
Selling their courses
Selling their advise
I NEVER see anybody calling for a bottom when its crashing down,
but most calling for the end of the world ....... <g>
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