June 03, 2006
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
18 comments:
I actually bought a copy from AMZN yesterday for 5 bucks as an historical document to accompany Dow 36,000, 1st edition of Stocks for the Long Run and Perle's An End to Evil: How to Win the War on Terror.
That family on the cover of the books is about to be CRUSHED by their home!
Saturday, June 03, 2006 2:39:43 PM Anonymous:
That's a great idea. I've been buying Fortune and Money magazine issues that show clear signs of house cooling, but I should also gather a few items of the manic view that induced the bubble.
The David Lereah of Phoenix
http://tinyurl.com/hudzw
Authors of Dow 36,000 (1999) clarify:
"JAMES K. GLASSMAN and KEVIN A. HASSETT
When our book, Dow 36,000, was published in September 1999, the Dow Jones Industrial Average stood at 10318. The Dow closed yesterday at 8736. What went wrong? Actually, nothing. Despite its flamboyant title, Dow 36,000 was a book of sober explanation, not of wild prognostication. We calculated that 36000 was the point at which the 30 stocks that comprise the Dow Industrials would be fully valued, and we warned that it is impossible to predict how long it will take."
So if you completely remove the element of TIME from the speculation taht RE prices will continue to increase, the statement becomes true. I predict that sometime during the 21st century prices will be greater than they are now.
Dow 36,000 is also on the shelf with Dow 100,000 (by 2020) and "Dow, 30,000 by 2008" - Why It's Different This Time.
Regarding your Dow 36,000 prediction, we'll keep selling you way-out-of-the-money S&P calls as long as you and your estate keep buying them (and as long as your accounts last).
The ones on this board with puts on TOL, HOV, PUL, etc. have done extremely well. Congratulations!
Dogcrap green suggested elsewhere that mortgage financials may be the next group on the hit parade; are the Goldman-Sachs weeklies turning down? Maybe. FNM had support at 50, violated last fall, and looks like it's hanging on by its fingernails. GM (GMAC mortgage) is terminal.
I have been following a site now for almost 2 years and I have found it to be both reliable and profitable. They post daily and their stock trades have been beating
the indexes easily.
Take a look at Wallstreetwinnersonline.com
RickJ
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