"Better times" cannot sustain stock prices

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Sun May 3 14:26:45 PDT 1998


David Lloyd-Jones wrote:


> Every time somebody puts money into one of these "refuges"
> somebody else is taking the same amount out,
> either as a seller or as a broker. Net refuge: zero.

Sometimes you sell to stop the pain; refuge means not losing more.

/jordan



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