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Dusting off another 20 year old relic found during my archeological dig in the "Current Events" ghost town. Exactly 20 years ago today there was a lot of nonsense being promoted post 9/11 and pre-reopening of the markets. Here I gently tried to save some Fools from additional losses in the wake of the tragedy. I don't think I was effective.


Politics & Current Events / Current Events
URL: https://boards.fool.com/can-patriotism-move-a-market-1575207...
Subject: Can Patriotism Move a Market? Date: 9/15/2001 11:35 PM


Author: exoracle Number: 4075 of 179620
There have been a lot of notes on this board and elsewhere promoting a grassroots movement to "not sell" - "buy one share" - "just buy" with a patriotic motive and a goal of trying to prop the market on Monday. This effort could benefit from some critical thinking and debate. I'll open with my view on two questions: Should it be done? Could it be done? [...]

The problems:
1) This is a global market, not an American market. Does the necessary fervent patriotism extend beyond out borders? Doubtful.

2) There are competing strong emotions - Patriotism and Fear. Fear has a track record. Fear has KO'ed many markets while Patriotism is a green untested rookie. Patriotism is frontal lobe while Fear is reptilian. Fear is the odds-on favorite in this bout. [NOTE: This is only in the context of market movement - Patriotism has always overcome fear in the context of the US successfully prosecuting a war.]

3) Can we trust the motivation of the promoters of this movement? I am sure most who post these messages are sincere. I suspect some are not. I appear to be getting the same number of spam e-mails promoting "just buy" as I got last week pumping penny stock scams.

Conclusion:
I'd like to believe it, but I think we will have to rely on other weapons in this battle. I fear that good-hearted and well-intentioned people will get hurt and disillusioned by tilting at this particular windmill. Do what is right for your financial situation and your family. If you feel compelled to participate in this "just buy" effort, do so with money you will not need for a while. Good luck."
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