Seller's market

From: John Foust <jfoust_at_threedee.com>
Date: Mon Mar 22 09:55:06 1999

At 10:58 AM 3/21/99 -0800, Sellam Ismail wrote:
>
>Think of it this way: if a toy stuffed with beans that cost a couple
>dollars to manufacture were to be made for sale in a way which makes
>people perceive a scarcity, and that toy was then subsequently priced up
>to $1000 because of dealers and price speculators feeding on the perceived
>scarcity of that toy, is it really worth $1000? Don't answer that yet.
>Now fast forward a couple years in time and the market runs its course,
>people are fed up with this toy and don't care about it anymore. The fad
>is over, the bottom of the market drops out, and the last sorry asshole to
>pay $1000 for a toy stuffed with beans is left holding an item worth maybe
>$50 to the person who still hasn't caught on that it was all just an
>irrational frenzy to begin with.

Uh, yeah, I think there's at least two auction sites like that:
NYSE and NASDAQ.

- John
Received on Mon Mar 22 1999 - 09:55:06 GMT