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I have read that book, but he is a PERMA BEAR!, and I don't like books like
that. I prefer a more broad perspective from an author. Maybe the best
book I ever read, came out in the early 80's and it was called Making Money
on the Obvious, I believe it is out of print, but if you can find it is
GREAT reading.
I am bearish only because I like a few others think we are in a MANIA. Too
many people are in the stock market boat, which causes instability, and
irrational movements. I lived in the Japan most of the 80-90 and saw it
happen there. I know everyone says it ain't the same, which is true, but the
Japanese people as a group are much more disciplined with their money and
savings than Americans are. Their problem is they never complain. The just
except too many things as is. Unfortunately American complain TOO much.
When ever I see these interviews on the street, and hear that" I'm not
worried I'm in for the long-term, it scares me. They just don't know what
it is like to watch you profits and then your equity shrink, and you keep
saying, "it will come back, I'm not worried". or I expect a 20-30 percent
gain every year. Many of these same people can't balance their check book!
It's amazing how many highly educated and high income people are living way
beyond their means.
I know quite a few. I remember a few years ago, at a dinner party I went to,
where most of the people were big shots from Wall Street firms in Tokyo. I
was talking to one young guy maybe 25 at the time. He was telling me his job
was investing 1.4 BILLION dollars. He was an Asian Fund manager, I just
couldn't figure who would trust such a young guy with so much money.
Most of the big players on wall street today have never experienced a BEAR
market. Only text book examples of one.
We all know that reading about it and living it are too different things.
Also when I hear wall street strategist say they are worried about Asia or
Europe, we (Amercia can withstand their crashes) very stupid. A very
dangerous situation!
That is why I am bearish. So I will short every chance I get. The biggest
advantage to day trading for me, is I am out at the end of the day. I sleep
good at night. Unfortunately the East vs West time difference makes for
many early mornings.
Regards
Don Green
-----Original Message-----
From: JER3CUBE@xxxxxxx <JER3CUBE@xxxxxxx>
To: reen@xxxxxxx <reen@xxxxxxx>; realtraders@xxxxxxxxxxxxxx
<realtraders@xxxxxxxxxxxxxx>
Date: Saturday, October 25, 1997 10:22 AM
Subject: Re: Gen: SOD
>In a message dated 97-10-24 23:35:25 EDT, reen@xxxxxxx writes:
>
><<
> I'm very bearish, I have prepared a short strategy you should also..
> Regards
> Don >>
>
>Hi Don,
>
>Many people may not know that help is available in the form of a book
>BEAR MARKETS, and how to survive them....by Harry Shultz
>available at your larger public librarys or ones with a good business
>section.
>
>Is there still time to learn?........If not NOW, When?
>
>All the best,
>
>GerryB/jer33:3
>learner/teacher
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