no party, no hangover.

C

chasinfla

As with most financial panics the stage had been set in advance by extravagant hopes and talk of a "New Era." Varied factors contributed to this surge of optimism....[including] dazzling predictions of new foreign markets. The public was in the stock market as never before.

...everyone...had a "tip" to pass on. Since the market was rising, every bullish tip came true and every tipster seemed a prophet.
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<font size=1>Bernard Baruch on the stock market of 1901.</font>
 
It's amazing how much of a dumb-ass you can be and still be right if you know the trend.

I had a revelation myself about 2 weeks ago - it was that being on the right side of the trend was more important than being right about entering and exiting an individual trade.

My life has become much easier. In the past, I'd ignore the trends, and usually make money by having superb executions, but sometimes I'd blow myself up ignoring the trend...

just my .02
 
Originally posted by Rigel
"There is nothing new under the sun."
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But you couldn't tell anyone that in 1997, 8,9, or 2000, could you? Though, ironically, there is a day coming when they will say, 'everything is as it always has been.'

I think a quote by Barnum fits too, unfortunately.
 
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