NEW ECONOMY, OLD HUBRIS.(Brief Article)
American Enterprise, The, July, 2001 by Tucker, Brooks
"It'll come back," the MBA-anointed sages droned as the once-invincible NASDAQ plummeted throughout the year 2000. "It's just a blip," said the 401 (k) day traders as the air hissed out of the Internet bubble. "It surely can't get any worse," insisted many investors and brokers as 2001 dawned. The subsequent undulations through the spring haven't inspired great confidence, and last year's downturn looks as if it might be with us for some time to come.
We can legitimately call it the Crash of 2000. And it banged up lots of vehicles. I think of one broker, an associate of mine among the sea of cubicles and quotrons that we inhabited 23 floors above the cityscape. Over the last couple of years he staked his reputation, and his clients' futures, on the blinking...
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