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Hello Ray,
I agree with you completely. Our victim culture has permeated every
nook and cranny. And the politicians consider the market decline
manna from heaven--they can help the po' folk who have been screwed by
the fat cats. the news/op ed coverage of this has been awful. No one
is reminding the viewer that we had the largest bubble in history and
buying into it after '95 held great risk. Greed kills!
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Thursday, August 1, 2002, 11:30:21 AM, you wrote:
RR> Recently the Democrats have been harping on the 7.7 trillion loss in market cap. This shows a total lack of understanding on how markets work.
RR> If a person is stupid enough to by stock in Dr. Coop.com (fill in your favorite dead stock) at $80 they deserve to drive a Dodge Omni with 100,000 miles (they probably paid 2995.00 for that too).
RR> The point is that the 7.7 trillion dollars did not disappear, it just changed hands. The uninformed and greedy sucker ALWAYS gets clipped. CNBC just ran a report about a couple that lost 75% of
RR> their account in JDSU. Their kid wants to go to Duke University, so they are moving, riding the subway, etc. He was man enough to admit it was his fault, but fell short of admitting it was
RR> GREED, pure and simple, that made him buy an over priced stock and IGNORANCE that prevented him from protecting his position with options or even stops. The person(s) who sold him JDSU at the
RR> top are driving the Porsche because they recognized that the market could not go parabolic for long.
RR> If there is a case of fraud, a stock holder would have a legitimate complaint and new laws may address some of this by returning ill gotten grains to investors (if the feds can find the assets).
RR> However in most cases this is not applicable. The vast majority of losses are caused by GREED coupled with IGNORANCE. Now the great masses are crying to their congress man "They never told me I
RR> could lose".
RR> Good luck and good trading,
RR> Ray Raffurty
RR> ----- Original Message -----
RR> From: SLAWEKP@xxxxxxx
RR> To: REALTRADERS@xxxxxxxxxxxxxxx
RR> Sent: Thursday, August 01, 2002 6:03 AM
RR> Subject: [RT] bear market stats
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