I've read that by some other measures this market surpasses anything since tulips. Is this true?
Even if we can't say that a crash is definitely coming, at least we could say, "This is the most overvalued market since tulips by many measures." And that would be fun.
-Zack
-----Original Message----- From: owner-lbo-talk at lists.panix.com [mailto:owner-lbo-talk at lists.panix.com]On Behalf Of Doug Henwood Sent: Tuesday, January 04, 2000 9:01 PM To: lbo-talk at lists.panix.com Subject: Re: thegreatcrash.com press release
Jordan Hayes wrote:
>He defines a crash as a 60% drop from the peak that stays below
>50% of their peak until the end of the year. Can that happen? I
>don't think so; today was a nice fall (those Jan 720 OEX calls were
>down $20, but closed at $50 -- still a nice run from the $13 in
>October), but watch for the bounce tomorrow. My only question
>remains: where will all the cash go? Just because the market took
>profits today doesn't mean that there won't be another few $B
>rushing in tomorrow.
>
>What are they going to do, buy bonds?
So by your logic, bear markets were never possible. Yet we've had many. Is it different now?
Doug