Banks, Bucks and Bolsheviks

Doug Henwood dhenwood at panix.com
Tue Mar 9 19:11:34 PST 1999


D. L. wrote:


>How stocks were in 1922, 1872,
>or even 1972 seems not to be terribly relevant to me. Once again I think a
>net-present-value calculation on the profitability of the major averages
>over 10 to 20 years might be a better figure to work with than dividends
>which don't reflect profitability equally across industries.

So you can divine the future better than you can understand the past? Is that what makes you the enlightened one?

Doug



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