Word: pshaw
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Dates: during 1970-1979
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...Pshaw. Convinced that blue chips have already had their fast runup, institutional investors are now concentrating on the vast mass of "secondary" issues. So far, the secondary issues into which the money is flowing are fairly good quality; brokers cannot yet see much sign of a speculative binge in low-priced and questionable stocks. Still, some of the old ebullience is returning. Market letters are full of advice to the investor on how to look for "bargains" among the many stocks that remain 50% or so below their peaks. The Dines Letter recently disdainfully dismissed any thought of conservatism...
...course Potter had no "old heart trouble." That was a bit of good gamesmanship. But alas, he never did correct the attribution, and I would so have liked to have my name, even in a footnote, in one of those great books of his. Mr. Pound -pshaw...