― hstencil (hstencil), Thursday, 24 June 2004 15:58 (nineteen years ago) link
― hstencil (hstencil), Thursday, 24 June 2004 15:59 (nineteen years ago) link
― roxymuzak (roxymuzak), Thursday, 24 June 2004 16:00 (nineteen years ago) link
by Rex Murphy
Excerpted from the ‘Magazine’ portion of CBC News THE NATIONAL television broadcast for April 17, 2000.
"What lives must die; what rises must set; and what goes up must – must come down. These are axioms; self-evident truths that have been available to the generations of man since there have been generations. The birth of high-tech and the arrival of the boomers, the Yuppie incarnation, were of course to have changed all that. Rules that have obliged every other moment of history obviously cannot be held to apply to this one. The most self- regarding generation of all history is going to live forever; jog till it’s 90; chemically extend its furious sexual capacity; replace and enhance all body parts and get continuously rich forever. It is this happy exceptionalism that has made the practice of building hopes and dreams on the stock market, and in particular that portion of it known as the NASDAQ, such a delightful habit for so many North Americans.
Of course the stock market, even the new economy NASDAQ is nothing more than old-fashioned gambling. And the NASDAQ, properly understood, is nothing more than bingo for yuppies. The difference is that for this generation, bingo is a game in which everyone is entitled to win all the time. So when last week rolled in with stock declines and when Friday hit with gale force and the loss of $2 trillion, well, the response of some was desperate unbelief; shivering incredulity. A delusion had been laid waste. What had been going up was now going down. How could anyone really be surprised? The itch to dot-com the world cannot be infinitely scratched. A web site is not a gold mine. Companies going public for billions that produce nothing, make no profits, hardly exist outside the ether in which they are promoted.
The last great stock market shill was Bre-X. But at least Bre-X pretended to be something on the earth – or in the earth. These IPOs and on-line trading stores – anything in fact with the word ’Net in it that isn’t made of string – are phantoms of avarice and appetite.
Dot-com looniness is the vapour of hot breathing greed, and the oldest idea in the world; that of getting something for nothing or a very great deal of something for hardly anything at all. North America has become a society of speculators; people who would rather guess their future than earn it. One large 24-hour casino – a Las Vegas of dividends and mutual funds and people who wander around muttering about their portfolios – in other words, their betting slips.
Any society that becomes intimate with the language of the stock market; where the broker is called more often than the teacher, and dips in the stock market carry more anxiety than a shortage at the grocery store, has wandered away from common sense and is waiting for a fall. There is no new economy. There never was. Riches without effort, are without effort withdrawn.
What the mouse click hath given, the mouse click will take away. Last week wasn’t a glitch. It was the oldest force in the universe. It was gravity. What goes up comes down, and sometimes vice versa. For the Magazine, I’m Rex Murphy."
― Huk-El (Horace Mann), Thursday, 24 June 2004 16:02 (nineteen years ago) link
That is horribly misinformed.
― hstencil (hstencil), Thursday, 24 June 2004 16:04 (nineteen years ago) link
― rasheed wallace (rasheed wallace), Thursday, 24 June 2004 16:04 (nineteen years ago) link
Hmm, it's up from 210 already - I'll give it to 250 before it stabilises, but who knows.
― Markelby (Mark C), Thursday, 24 June 2004 20:31 (nineteen years ago) link
Today was a bad day to own AT&T.
― hstencil (hstencil), Thursday, 24 June 2004 20:33 (nineteen years ago) link
A company I have shares in did a 1 for 15 stock split, i.e. your number of stocks was divided by 15, and the price went from 16p to £2.40. This was primarily a PR exercise to make the stock not look like penny shares.
― Markelby (Mark C), Thursday, 24 June 2004 21:04 (nineteen years ago) link
― hstencil (hstencil), Thursday, 24 June 2004 21:06 (nineteen years ago) link
― rasheed wallace (rasheed wallace), Thursday, 24 June 2004 21:18 (nineteen years ago) link
How did Stencil post the current New Yorker cover four years ago?
― Hurting 2, Thursday, 10 July 2008 14:48 (fifteen years ago) link
i think you can figure that out
― gabbneb, Thursday, 10 July 2008 14:48 (fifteen years ago) link
I just bought a book about the Australian Stock Exchange today. It's surprisingly interesting so far, I'm feeling enthusiastic about it.
― gem, Thursday, 10 July 2008 15:01 (fifteen years ago) link
There should be an ILX portfolio of 10 stocks, and we can see how much play money we make in a year.
― Eazy, Thursday, 10 July 2008 15:02 (fifteen years ago) link
Everything seems like a bargain until it's worth even less the next day.
― Hurting 2, Tuesday, 15 July 2008 14:48 (fifteen years ago) link
see how much little play money we make lose in a year.
for this year, anyway
― Hurting 2, Tuesday, 15 July 2008 19:27 (fifteen years ago) link
Can we short small/mid cap US banks?
― Ed, Tuesday, 15 July 2008 19:29 (fifteen years ago) link
How did Stencil post the current New Yorker cover four years ago?-- Hurting 2, Thursday, July 10, 2008 10:48 AM (5 days ago) Bookmark Linki think you can figure that out-- gabbneb, Thursday, July 10, 2008 10:48 AM (5 days ago) Bookmark Link
-- Hurting 2, Thursday, July 10, 2008 10:48 AM (5 days ago) Bookmark Link
-- gabbneb, Thursday, July 10, 2008 10:48 AM (5 days ago) Bookmark Link
Actually I can't
― Catsupppppppppppppp dude 茄蕃, Tuesday, 15 July 2008 20:12 (fifteen years ago) link
oh wait 190 REFERS to the image size not issue #
Yeah, I figured it out.
― Hurting 2, Tuesday, 15 July 2008 20:14 (fifteen years ago) link
190 reefers: invest!
― Abbott, Tuesday, 15 July 2008 20:14 (fifteen years ago) link
bet on black lol
― Catsupppppppppppppp dude 茄蕃, Tuesday, 15 July 2008 20:24 (fifteen years ago) link
bandwagon jumper
― El Tomboto, Tuesday, 15 July 2008 20:46 (fifteen years ago) link
Not really a stock, but for some reason predictit still has Trump winning election at 12c.
― Philip Nunez, Monday, 9 November 2020 18:53 (three years ago) link
Doesn't that make Biden at 88c easy money?
― longtime caller, first time listener (man alive), Monday, 9 November 2020 18:55 (three years ago) link
(or whatever he's at)
― longtime caller, first time listener (man alive), Monday, 9 November 2020 18:56 (three years ago) link
Yes, basically a 12% return (- 5% redemption - 0.1% fee) = roughly 7% return in one month = 225% compounded APR or 84% simple APR
Unless... constitutional crisis or something.
― Philip Nunez, Monday, 9 November 2020 19:15 (three years ago) link
now up to 15-16cmoney is getting easier or chance of coup getting hotter.
― Philip Nunez, Tuesday, 10 November 2020 21:33 (three years ago) link
the plungers have arrived
― the unappreciated charisma of cows (Aimless), Tuesday, 10 November 2020 22:53 (three years ago) link
told me I couldn't buy any, too many people already had
― Lover of Nixon (or LON for short) (Neanderthal), Wednesday, 11 November 2020 03:59 (three years ago) link
there are proxy markets you can use like "which party wins the presidency""TX Dem primary winner elected president""woman VP in 2020"etc...
I shouldn't be flabbergasted by anything in 2020 but my flabber is gasted.
― Philip Nunez, Wednesday, 11 November 2020 21:01 (three years ago) link
I got fills at 82c today...that means people still think there's an 18% chance trump will take the white house.what is going on...?
― Philip Nunez, Friday, 20 November 2020 00:38 (three years ago) link