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a new paradigm?

In his engrossing article on InvestorLinks.com, Paul Merriman complains about the current bull market and the underlying attitude and philosophy of investors. He highly favors the "old rules" and criticizes present investor optimism. In his opinion, the purchase of tech stock and other high-flyers is equal to gambling, since people purposely buy "high" hoping to sell even higher to an even greater fool. When the "foolchain" ends, the stock market crashes. For Merriman, taking risks is equal to making losses. While I don't agree with his reasoning, the article is still definitely worth reading, as it provides a good synopsis of a conservative stance vis-a-vis the market.

Thu, 16 Mar 2000 07:40:36 -0800

Submitted by: Juergen Lahnsteiner