[arete]

There's nothing for Mr. Kindleberger to gloat about. You didn't need an MIT economics professor to tell you that technology stocks were overpriced

Are you kidding? There are still people here posting that they are buying stocks. They have been calling a market bottom for over a year. Now, they are seeing their money evalopate and are angry.

The same will happen with housing. When the bottom falls out, they'll get clipped again.

Richard W.

[Alberta's Child]

There's a difference between an "overvalued stock market" and "overvalued technology stocks."

Mr. Kindleberger simply said in 1996 that he thought technology stocks were overpriced. If he were truly a stock market guru, he would have predicted a steep decline in blue chip stocks, too. In that sense, the technology stocks were so overvalued that he wasn't much more astute than someone who predicted that the sun would rise the following day.

People may be buying today, but I'll bet very few of them are buying WorldCom.

[LS]

I still call for "buying." If I had more money, I would. But I haven't seen a cent "evaporate," because I haven't sold.