Originally Posted by
Skol
The greatest and most catastrophic loss of funds in history was the NASDAQ crash following the speculative mania in internet stocks. I remember very well watching enthusiastic NASDAQ investors on TV telling those that hadn't sunk money into internet stocks that this was a new era, that they (non-NASDAQ investors) just didn't understand.
In the 7 years leading up to the crash the NASDAQ increased by 6.25 times.
For the last 7 years silver has increased 8.6 times.
Luckily I wasn't involved, but while a crash in the silver price won't have the same catastrophic results it has the potential to wipe out heaps of hedge and mutual funds and millions of overly optimistic individuals.
Gonna be good to watch though, a new generation learning all about speculation, new eras, manias and bubbles.
A quote from one of my books:
""However, once an investment mania has begun, the point at which an investor sells is no longer that important, because I am not familiar with any mania that did not subsequently give back its entire gains over the years leading to the top, and usually some more."