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Hello Steve,
I don't think so. The wealth still resides with the person who sold
to the purchaser.
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Thursday, August 1, 2002, 11:34:25 AM, you wrote:
SW> Wealth does disappear to the extent the market moves higher after the
SW> purchase and then retreats.
>>>> r.raffurty@xxxxxxxx 08/01/02 10:30AM >>>
SW> Recently the Democrats have been harping on the 7.7 trillion loss in
SW> market cap. This shows a total lack of understanding on how markets
SW> work.
SW> If a person is stupid enough to by stock in Dr. Coop.com (fill in your
SW> favorite dead stock) at $80 they deserve to drive a Dodge Omni with
SW> 100,000 miles (they probably paid 2995.00 for that too).
SW> The point is that the 7.7 trillion dollars did not disappear, it just
SW> changed hands. The uninformed and greedy sucker ALWAYS gets clipped.
SW> CNBC just ran a report about a couple that lost 75% of their account in
SW> JDSU. Their kid wants to go to Duke University, so they are moving,
SW> riding the subway, etc. He was man enough to admit it was his fault,
SW> but fell short of admitting it was GREED, pure and simple, that made him
SW> buy an over priced stock and IGNORANCE that prevented him from
SW> protecting his position with options or even stops. The person(s) who
SW> sold him JDSU at the top are driving the Porsche because they recognized
SW> that the market could not go parabolic for long.
SW> If there is a case of fraud, a stock holder would have a legitimate
SW> complaint and new laws may address some of this by returning ill gotten
SW> grains to investors (if the feds can find the assets). However in most
SW> cases this is not applicable. The vast majority of losses are caused by
SW> GREED coupled with IGNORANCE. Now the great masses are crying to their
SW> congress man "They never told me I could lose".
SW> Good luck and good trading,
SW> Ray Raffurty
SW> ----- Original Message -----
SW> From: SLAWEKP@xxxxxxx
SW> To: REALTRADERS@xxxxxxxxxxxxxxx
SW> Sent: Thursday, August 01, 2002 6:03 AM
SW> Subject: [RT] bear market stats
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