From dhenwood at panix.com Mon Mar 20 09:55:56 2000
a speculative market can't survive them for long either.
Unless it really is different this time. Jordan?
How long is long?
Seriously, what do you mean by speculative? As if the whole notion of an equity market isn't based fundamentally on speculation? Every market is a combination of two players: specs and hedgers. If you buy stock, you are by definition a speculator.
I'm already on record here for the signal: a radical change in tax policy or a radical change in the supply of equities.
No change in either so far :-)
/jordan