October 24, 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.
10 comments:
No pics of Jim Cramer the great NASDAQ Whore of Babylon?
At least PT Barnum acknowledged he was a purveyor of circuses and freak shows...
Cheers, Haggis
You forgot the Beanie Babies...
Lereah looks like smug j*ck*ass!
P.T. Barnum had a late night infomercial? Damn, I musta missed it!
10 photos ... a thousand words!
actually 10 photos and 1 word...
greed.
Exactly, devestment
Leverage is dangerous for stocks, but magical for real estate. Buying option contracts on stocks has to be approved by a licensed options principal and must be based on the client's investment experience, income, and liquid net worth. Buying houses as investments are allowed for people like Casey Serin with no investment experience, no job, and negative liquid net worth. Something is seriously wrong with that picture.
Anyone who uses heavy margin (4:1) for stocks is a professional trader, not a Kiyosaki moonie like a majority of the RE players out there.
Exactly, devestment
Leverage is dangerous for stocks, but magical for real estate. Buying option contracts on stocks has to be approved by a licensed options principal and must be based on the client's investment experience, income, and liquid net worth. Buying houses as investments are allowed for people like Casey Serin with no investment experience, no job, and negative liquid net worth. Something is seriously wrong with that picture.
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Perhaps this is because the Great Depression was precipitated by the stock market crash. Then some regulations were put in place to make sure that it never happened again. Some of these protective regulations have since been rolled back by pro-business politicians and the fat cat corporate special interests they represent, but that's another story.
Maybe if the housing collapse gets us into a depression, there will be more stingent regulations for buying and "investing" in housing. No infinite leverage would be a good one to start with.
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