Eliott Wave International asked readers who should be the mascot to represent the Stock Mania of 2002-07, and you replied with several excellent suggestions. Two of our EWI staff members had a big hand in choosing the winners: Pete Kendall, the co-author of The Mania Chronicles, and Nico Isaac, our writer who originally suggested day traders as the mascot. She wrote about a particular young day trader whom the IRS is after for not reporting his profits and losses from 2006-7.
The entries were divided fairly evenly between real people and real and fake animals as mascots. We decided to stick with animals or general ideas, which left out some excellent suggestions for real people, such as Alan Greenspan, Jim Cramer, Bernie Madoff and a few other more obscure names.
The three winners will receive a signed copy of Pete's book, The Mania Chronicles: A Real-Time Account of the Great Financial Bubble. You can get your own copy, too, at a special discount for The Mania Chronicles (for a limited time), a timeless book that will remind you of what it was like to live through a stock mania.
Blue-Footed Booby - David P Frasz
I suggest the Blue-Footed Booby. It is a real bird and that's its real name. Google it. It's a serious but ridiculous-looking bird who reminds me of all the economists and their wrong predictions, all the over-confident bankers and brokers, all the wishful-thinking in real estate, and all the ineffectiveness of the Fed.
Editor's note -- We did google it and learned this from the National Geographic web site: "Blue-footed boobies are aptly named, and males take great pride in their fabulous feet. During mating rituals, male birds show off their feet to prospective mates with a high-stepping strut. The bluer the feet, the more attractive the mate … These boobies live off the western coasts of Central and South America. Like other boobies, blue-foots nest on land at night. When day breaks, they take to the air in search of seafood, sometimes fishing in cooperative groups … All half-dozen or so booby species are thought to take their name from the Spanish word 'bobo.' The term means 'stupid,' which is how early European colonists may have characterized these clumsy and unwary birds when they saw them on land—their least graceful environment." Don't Worry, Be Happy song
Bobby McFerrin is the perfect mascot for the stock mania. He wrote and performed the 1988 hit "Don't Worry, Be Happy" which seemed to be the exact attitude of not only stock investors, but quants, hedge funds and talking heads on CNBC during the mania of the 2000s. Credit over-extension? Don't worry, be happy! Liar loans? Don't worry, be happy! Record high debt/GDP ratio? Don't worry, be happy! Looming "Black Swan" event? Don't worry, be happy! I could go on and on...
Dodo bird - Kanishk Singh
In my opinion, the most appropriate mascot for the 2002-07 stock mania, in hindsight, is the long-extinct Dodo bird. What seemed to be never-ending optimism during the stock bull run now seems truly extinct, just like the dodo is.
The dodo was considered an easy prey, which is exactly what I feel of all those people who entered the markets lured by talks of Dow 100,000, or making a quick buck on the great housing bonanza.... They share something common with the dodo -- easy prey.
Another critical reason would be that the dodo was supposed to possess a 'greedy appetite' and when in captivity 'overfed easily' which pretty much sums up the mindset and thought-process of people who entered the markets in those 5 years, expecting it to go on forever ... until of course we all know what happened!
"The crooked man" as in There was a crooked man and he walked a crooked mile, He found a crooked sixpence upon a crooked stile. He bought a crooked cat, which caught a crooked mouse. And they all lived together in a little crooked house. - Mark Neff
I think it has to be the average Joe who quit their former jobs to become a Realtor, real estate "investor," or mortgage broker. I know several people who did just that, despite knowing little to nothing about the business. To me, captures the feeling of those years more than anything else, much as the day trader signified the tech boom days. - Justin Brill
And more mascot suggestions from our readers
White Elephant -Laurie Burridge
I nominate the Pig. Bulls make money, bears make money but pigs get slaughtered. -Monty Langenhoff
Daffy Duck - Jim Myers
One single tulip, broken in the stem -Leo Stedehouder
The Ostrich of course. It ran strongly and occasionally showed its true nature by putting its head in the ground but eventually, it's time for the slaughter house. - Damien Lim
Kitty the Cat, can climb a tree but needs help to get back down. -Boris Dzula
The Trojans - They thought the battle was won and allowed the Greeks to breach their walls by bringing in the Trojan horse only to see the walls of Troy fail. This was not the type victory trophy they expected. Reminds me of Wall St. -Jason White
My Stock Pick This Week
Is a short sell on Host Hotels & Resorts real estate investment trust.
Sell Short Host Hotels & Resorts / Ticker HST
Sell Entry: 14.44 to 13.99
Take Profit Areas: 12.82 to 12.63, 12.11 to 11.92, 10.60 to 10.43
Host Hotels & Resorts Company Profile
Host Hotels & Resorts, Inc. is a publicly owned real estate investment trust (REIT). The firm primarily engages in the ownership and operation of hotel properties. It invests in the real estate markets of United States. It also invests in Canada, Mexico, Chile, the United Kingdom, Italy, Spain, and Poland. The firm primarily invests in luxury and upper upscale hotels. It was formerly known as Host Marriott Corporation. Host Hotels & Resorts was founded in 1927 and is based in Bethesda, Maryland.