A 1997 PBS show worth watching…

The Consistency of Insanity Circa 1997

Hat tip Michael Covel

Category: Video

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5 Responses to “The Consistency of Insanity”

  1. alanvw says:

    Nice find Barry – this is a great historical record of a time we will likely never live to see again.
    The statement from David Gardner in section 3 on their investment strategy was just stunning…the worst part is that it seemed like he actually believed in what he was saying.

  2. EIB says:

    The couple in video #3 @ 8:00.
    They put it all into AMLN in 1997.

    Any guess when they sold? LOL!!

  3. victor says:

    Cramer looked so young; ex bald head he resembled Teddy K ex alpha male jaw line. Incredibly, people still listen to Jimmy C after years and years of busts in his stocks recommendations and outlook on the market. Then I caught a glimpse of AAPL on the ticker tape @ $19; I think it continued down to $10, about what they had in cash at the time. Nobody wanted any part of AAPL: Dell, MSFT, IBM they all said no thanks. Re-enter Steve Jobs; had the family from Upper NY bought AAPL then….

    Not withstanding the well known vicissitudes of the markets there is a serious flaw that Buffett discussed in a Fortune op-ed sometime in 2000 or 2001. He proved via simple arithmetic that Wall Street’s OVERALL take on a yearly basis is equivalent to some 30% of the entire market’s earnings/year, thus making it VERY difficult for the little guy to get ahead in a meaningful way.

    Here’s the advice I give my grown up children (not so grown up in some ways): once you have a steady job based on solid education and or experience in your field buttressed by a stash of cash equivalent to 6-12 months of total expenses plus something to account for a black swan you should consider walking into this casino we call “The Stock Market” armed with Ben Graham’s “The intelligent Investor” and John Bogle’s “The little Book of Common Sense Investing”. Stay away from financial advisers. Then test the waters and pray. Wow! I just took the wind out of the sails from thousand of Investment Advisers, incl. the ones from the “Too Big to Fail” circle. Some of them have billions under “management” from “high net worth investors” a near identical term used in the gambling casinos (whales). Imagine the fees on billions of “assets under management? Must be sweet!

  4. JesseLivermore says:

    This is the exact same thing as Joe Kennedy getting stock tips from shoe-shine boys and knowing the market had peaked. People who had absolutely no business being in the market were in the market. If I had seen this I would have taken it as a terrific contrary indicator. But the thing is, the market kept going up for another 4 years! And even the Nasdaq has NEVER gone below its level of 1996 when these scenes were filmed. It’s really, really hard to call a top on a bubble.

  5. V says:

    Iomega PE 160.

    How much has really changed?