A few years back, Amazon.com sent me a 50% discount coupon for one of John C. Bogle’s books, “John Bogle on Investing: The First 50 Years.” The market was roaring back then and nobody wanted to read what old man Bogle had to say about value, at least not for $29. One eager Amazon.com seller was willing to let this book go for $4.99, “Like new, never read!” he boasted. The Dow was 11,380. My barber had just told me that his college-aged son’s roommate’s parents had just quit their day jobs, making $2k a week, apiece, day trading. That was March 2000, peak of the dot.com boom. Apparently, many copies went unsold.
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