Biotech Values

[vinmantoo]

BSR_David,

I was thinking of the "it is different this time" comment after reading about how the small investor is done with equities. I see the continued withdrawal from equities as another example of buy high, sell low that often happens with the impatient, the fearful or the over-extended.

I remember reading an interesting article about baby boomers selling off to reduce risk. The author was countering doom and gloom view by pointing out that the boomers comprise a fairly wide age range so it isn't as if there is a short window that everyone needs to sell, nor is it that people will sell off all their equities holdings. I do agree that there will be, and probably already is, a reduction in the percentage kept in equities. Of course if stocks do experience an 1982+ type rebound, you can be sure some of that money withdrawn will come flowing back into equities because people don't want to miss the boat.