But the thing was, he was in total disbelief at the time it was all being built. It was needed yesterday and price didn't matter, but there was no way they could possible ever use it all in the next ten years. He could see that it was all just pie in the sky. And then when the markets turned down and then it was like switch being thrown and nobody wanted the stuff any more, you would have thought he would have put two and two together.
My brothers the President of about a billion a year company, and it took me almost two years to convince him the markets are going down. He's finally thinking capital preservation.
My next door neighbor who is a nurse, doesn't even open her statements. Other than seeing if it went up or down it wouldn't mean anything to her.
Vaguely remember reading about a survey where a good percentage of average investors think that 20% gains a year is the normal. Some even thought their money was guaranteed like a saving account. They have no clue. I guess an eighteen year bull market can do that.
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