The "crazy-insane, unbelievably dangerous" market

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Fri May 5 10:21:30 PDT 2000



> [The following is from the current Economist. Key quote: "'The
> stockmarket is now crazy-insane, unbelievably dangerous,' says
> Mr Druckenmiller." Guess that's a buy signal, eh, Jordan?]

It's an interesting phenomeonon: people who claim that they don't understand a market who then are shocked when they make poor decisions and lose their shirts.

A better quote from Druckenmiller was: I fucked up, I should have sold in February.

Interestingly:


> Mr Soros says that, in these circumstances, "it is too dangerous
> and crazy to short. You could have shorted the market in March
> of 1929 and lost everything."

But this is exactly what Chase Manhattan did :-)

/jordan



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