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What are the now grown up kids to? buying net stocks or paying debts?
:-))
Gwenn
Howard Hopkins wrote:
> Larry and All,
>
> In 1989 I was half owner of a townhouse. We paid $121,000 for it in 1985,
> the comps in my community were selling for $165,000 in 1989. My partner was
> an "experienced" real estate investor beleiving real estate prices would
> never decline.
>
> After a night out at the bars, my buddy and I decided for a late night
> breakfast at Denny's. Behind us in the next booth were two guys I would
> guess about 18 years old. I overheard them talking about how they were
> going to get their fathers to put down payments on townhouses for them and
> in two years they'd have $40k - $50 each.
>
> The next day, I called my partner and told him I wanted to sell and wanted
> out. He reluctantly agreed but would sell below the last comparable sales
> prices. Our townhouse sat on the market for over a year. My partner
> wouldn't come down on price and we watched comparable units selling in the
> upper $120's. I finally sold out to my partner for far less than we would
> have gotten initially.
>
> Those two kids in Denny's called the top of the real estate bull market of
> the 80's.
>
> Howard
>
> >From: "Larry Brent" <lbrent@xxxxxxxx>
> >Reply-To: lbrent@xxxxxxxx
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Subject: [RT] Re: Market tops
> >Date: Tue, 11 Jan 2000 09:18:57 -0600
> >
> >Ira and all,
> >My thinking exactly! This past weekend I was reminded of the supposed
> >meeting of old Joe Kennedy and a shoe shine guy. While Joe was getting his
> >shoes shined the shoe shiner was giving all the stock tips, etc. - after
> >Joe left he called his broker and sold all his stock holdings. His
> >thinking was the market was headed down big time if unknowledgable people
> >are giving out tips and trading on them. This occurred in '29 just before
> >the crash. I don't know if the story is true, but it does have interesting
> >point.
> >This past weekend I was standing in line at a local supermarket. As I
> >stood
> >there, I got to listening to the checker telling about her successful stock
> >trading to a much older woman. At first I thought she was very
> >knowledgable, but then I percieved that she was only using terms she'd
> >picked up from her broker and really didn't understand at all! Then came
> >the "tips" ....... did I sell out yesterday -no.
> >However, I'm getting more and more wary so I may cash out and take a nice
> >long vacation.
> >Larry
> >----- Original Message -----
> >From: Ira Tunik <ist@xxxxxx>
> >To: realtraders <realtraders@xxxxxxxxxxxxxxx>
> >Sent: Monday, January 10, 2000 10:39 PM
> >Subject: Market tops
> >
> >
> > > Not looking at anything technical, just the psychology of the market and
> > > what is happening about us. There are now more TV ads for on line
> > > brokers then there are for Burger King. There are more ads for mutual
> > > funds then there is for "Bud Lite". There are more ads for drugs then
> > > there are for feminine hygiene products. Is this the first sign that the
> > > powers will get all the spare cash into the market and be flat or short
> > > at the high. The only thing missing is the bull on the cover of the
> > > Times, there is no more Saturday Evening Post. Have a good week and
> > > watch your wallets. Ira.
> > >
> > >
> > >
> > >
> >
> >
> >
>
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