The Lighter Side

An Oldie but Goodie

Here is a song parody that made the round in April 2000 and we all know what was going on in the stock market about that time. Amazing how it fits today. More after you read it.

Sing this to "American Pie."

Humble Pie
A long, long week ago
I can still remember how the market used to make me smile
What I'd do when I had the chance
Is get myself a cash advance
And add another tech stock to the pile.

But Alan Greenspan made me shiver
With every speech that he delivered
Bad news on the rate front
Still I'd take one more punt

I can't remember if I cried
When I heard about the CPI
I lost my fortune and my pride
The day the NASDAQ died

So bye-bye to my piece of the pie
Now I'm gettin' calls for margin
'Cause my cash account's dry
It's just two weeks from a new all-time high
And now we're right back where we were in July
We're right back where we were in July

Did you buy stocks you never heard of?
QCOM at 150 or above?
'Cos George Gilder told you so
Now do you believe in Home Depot?
Can Wal-Mart save your portfolio?
And can you teach me what's a P/E ratio?

Well, I know that you were leveraged too
So you can't just take a long-term view
Your broker shut you down
No more margin could be found

I never worried on the whole way up
Buying dot coms from the back of a pickup truck
But Friday I ran out of luck
It was the day the NAAAASDAQ died

I started singin'
Bye-bye to my piece of the pie
Now I'm gettin' calls for margin
'Cause my cash account's dry
It's just two weeks from a new all-time high
And now we're right back where we were in July
Yeah we're right back where we were in July

The credit for this one goes to an American investment banker working for CSFB in London, named Sean Brady, or so says one source.

So how is this a good fit for today? Some might make the sentiment argument that Nasdaq in 1999 = Subprime in 2007.