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When will they learn?

Posted By Barry Ritholtz On August 22, 2003 @ 10:40 am In Finance,Media | Comments Disabled

Quite the prescient page 1 article in WSJ today: Tech-Stock Surge Brings Back A Hint of the Late-1990s Frenzy [1].

The article was written before todays INTC news.

At the open, the market gapped up hard, only to give most of it back; The S&P went negative, by 10:30, the Dow gave most of its gains (its plus 12 as I type this). Nasdaq remains the strongest index.

Take at look at the chart from E.S. Browning’s article:

forward PE.gif

I’m reminded of a terrific quote from one of my favorite writers:

“Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.”
-Douglas Adams [2]

http://online.wsj.com/article/0,,SB106150301076796100,00.html


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URL to article: http://www.ritholtz.com/blog/2003/08/when-will-they-learn/

URLs in this post:

[1] Tech-Stock Surge Brings Back A Hint of the Late-1990s Frenzy: http://online.wsj.com/article/0,,SB106150301076796100,00.html

[2] Douglas Adams : http://www.douglasadams.com/creations/chance.html

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