DEJA VU
After last week's rather incredible moves in some of the Internet stocks, I decided it was time to read The Money Game again -- particularly the section on The Kids; the section that tells about The Great Winfield's solution to the boiling market of 1968: "Kids. This is a kid's market..." The Kids, you see, were the only ones who could figure out the New Math, the New Economics and The New Market.
And what stocks were The Kids buying in 1968? The complete list (from pages 246-248): Leasco Data Processing, Data Processing and Financial General, Randolph Computer, Kalvar, Mohawk Data, Recognition Equipment, Alphanumeric, Eberline Instrument, Western Oil Shale and Equity Oil.
Ten stocks -- none of which are around today.
I think there's a message in there somewhere...
-- Walter Deemer
P. S. Oh, yes; in case you forgot, I was in charge of the War Room at Gerry Tsai's Manhattan Fund in 1968. I don't think you could get any closer to the Go-Go Market than I was. Been there, seen that, as they say...