I have been predicting a coming stock crash for a year now. At the time, P/E
was 20 to 1. Now it is 30 to 1, bigger then 1929.
I underestimated the power of greed and overestimated fear. Unfortunately
the bigger the bubble, the bigger the crash. This article shows the wild
speculative nature of this market by the example of Amazon.com. The big
percentage of its outstanding shares traded on a daily basis is a walking
poster for "The Greater Fool
Theory".
The Stock Market Bubble and Y2K. A very interesting juxtaposition.
flw
http://www.washingtonpost.com/wp-srv/WPlate/1998-12/30/010l-123098-idx.html
The Confidence Game.url
