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Hi David- I thought that Rekenthaler's response was thoughtful and well-written. I'm inclined to agree with his observation that "It is also the nature of investing that this newly popular asset increases in price until it becomes a poor value. This story suggested that the first instance may be upon us. It did not, however, demonstrate that the second has arrived. "
Comments
Ted earlier provided the link to Rekenthaler's response to the WSJ article. Let's just say he's not convinced: http://www.mutualfundobserver.com/discussions-3/#/discussion/8958/will-individuals-ruin-the-stock-market-
David
Thanks also to Ted for the reference article.
OJ