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Human beings are the same as they always were. Not a coincidence that 1929 brought highs and 1933 brought lows, just as the next big boom had highs and lows the same distance apart in time(1999-2000 highs and 2003 lows).
People in 1933 assumed the Depression was over, but they hadn't forgotten the get rich quick 1920's, just as we feel good times are right around the corner - so we speculate in houses and muscle cars. Not saying we're going to bottom like 1933 - things are different and much, much better. But the great themes are still there. We still remember the 1990's and how easy everything was if we timed things right, and thus can fall into the same false hopes that a once-in-a-lifetime Bull will return.
Just remember there was quite a recession in 1937-1938. Don't think I'd do anything with $100k until next year when things bottom. So basically, get a CD for 1 to 1.5 years, then, when everybody knows things suck, buy some stocks....
Last edited by RKC; 03-16-2007 at 01:43 PM..
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