Classic Frontline Special from 1997 on the Market

Brings back a lot of memories.

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Thanks for posting this. I watched the 4 parts at youtube.
Cramer was his usual, uh, self. Grant, I'll always listen to.

 

How many of those people making 150% returns do you think gave it all back and then some 3-5 years later?

The best part was that lady who said "if you look at the market last 100 years, in 1900 it was here and in 1996 its here, it might go up and down but it has always ended on the up"

Its been 10 years market has lucky to breakeven

 

And this woman complained about MSFT not appreciating fast enough, then shifted all her family (husbands) savings into technology stocks she was told would double by August. I mean, how idiotic can you get? Her husband is deeply worried but does not interfere, only prays that the market will not crash. I sincerely hope that she lost everything with those two stock picks by now. This family does not deserve to live any better.

 

I saw that too, and I checked the stock that she didnt even "know the name" of. If she bought it at end of 1996 it was at 12, went to 15 in the beginning of 1997 and then crashed shortly after. It was a pharmaceutical company. She lost it all. No doubt.

 

She wore the pants in that family . . . she was offended that he had to work for a living . . . she got what she deserved.

 

http://www.pbs.org/wgbh/pages/frontline/video/flv/generic.html?s=frol02s4bbq79&continuous=1

Good Frontline report from 2006 on 401k . . . good coda to the 1997 report. Basically the rich invest and manage their 401k well . . . the poor do not. Rich get richer . . . good thing Bush didn't get his privatization.

 

Dream home is a tacky McMansion. LOL!!

I bet they are living in a trailer now.

 

Thanks for posting this. I remember seeing this when it first aired. Was right about the time I started trading. Oddly enough AMLN was the first stock I ever day traded back then. Good thing I didn't invest in it like the newb in the clip.