Once upon a time investors had rules: Buy and hold. Buy -what you know. Buy blue chips. This was how you matched the market's historical returns of 11 percent ayear. Only 11 percent? As the market spent the last half of the '90s spiraling upward, the traditional wisdom was shouted down. "The business cycle has been abolished!" cried the apostles of the New Economy. "Day trading works!" they said. "Don't ask if companies make money!" You don't get it, was the message to naysayers. The Internet has changed everything, and you don't get it.
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