Worth remembering: 1) 55% of the population never owned stock - throughout the bubble. 2) Of those who did - the vast majority owned less than 25,000 in stock - purchased through the 401 K plans they were given in place of pensions, or via IRAs they were told to use in place of pensions.
And every place they could go for advice, they were told that stocks were the best long term investment. <irony>Ah, the fools, how could they make such a mistake?</irony> Carl Remick wrote: >> From: "Davies, Daniel" <[EMAIL PROTECTED]> >> >> At 09:16 AM 07/30/2002 -0400, you wrote: >> >4] To what degree has the bubble (aka "new") economy been nothing >> more than >> >an elaborate and calculated scheme to steal money from employees and >> middle >> >class investors, or was it more fortuitous accident of history for those >> who >> >got rich at every one else's expense? >> >> ach. Was it Phineas T Barnum who pointed out that "you can't con an >> honest >> man", or someone else? ... >> >> If charging $300 for VA L:inux stock, or giving eToys a larger market >> cap. >> than Toys-R-Us, were con games, they weren't exactly subtle ones. At the >> end of the day, the worst you can accuse the dot.com billionaires of is >> George Washington Plunkitt's epitaph "He Seen His Opportunities, And He >> Took' Em". > > > Ah, the magic of the marketplace! First you're swindled, then you're > ridiculed for being a fool. In all of human progress, has there ever > been a more inspiring or consoling sentiment than that of "caveat emptor"? > > Carl > > _________________________________________________________________ > Send and receive Hotmail on your mobile device: http://mobile.msn.com > >
