"Hello all.I was browsing through some posts from 2007 and was struck by how different the mood was back than.Lots of talk about how investment returns were greater than annual savings so why bother continueing to work?I guess if every year was that good no one would need to work.RegardsMosquito "^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Are years good because everyone is working - or is everyone workingbecause the year is good?Business cycles - they are in part due to fluctuations in supply/capacity versus demand. In a world where forecasting trendsgrowth to follow last years or the last 5 year plan, and whereproject profitability is extrapolated from the last project ofsimilar size or product, assumptions become reality until thereis an action which causes the markets to consider real things---- inventory, capacity utilization, debt load, presentvalue. And at some point in time, people will wonder ifa dollar or yuan of earnings here is different than a dollaror yuan of earnings there and question why a premium is justifiedfor this or that and question if a given return is real.Howie52Crowd theory 101.
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