The greatest greed and fear I have ever seen was in the 80's. The gains in the stock market from 1982 to 1987 were spectacular and of course in some stocks amazing. It was the time of Alan Bond and many other questionable people but no one cared when they were making big money. No one ever does. I was even thinking of retiring at that stage but I didn't. By 1987 guys would be talking about this stock and that at work. I remember one guy who loved Equitcorp, I think it was called, and was borrowing even more money to buy it. Yep it went broke.
The 1987 stock crash was the only one I avoided completely - the reason? my girlfriend's father was the type that you could not pry a dollar from, I would guess he would hold on to it even after death in his cold cold hands...anyway when my girlfriend told me he invested $10,000 in a AMP stock fund, I was shocked and when she said, "We're going to make a lot of money!" I knew the top must be near (she was always wrong) That was in September 1987, the market crashed the next month. After that, if you had mentioned stocks at work they looked at you as if they wanted to kill you. I knew a few people who lost their houses.
Margin loans, Don't do it.
BDR Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
