DOW 36000 - Glassman and Hassett Message Board

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Pastimes : DOW 36000 - Glassman and Hassett

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To: noiserider who wrote (27)	12/18/1999 12:16:00 PM
From: noiserider	of 42

Some facts: - the risk of stock over the long haul (20 year holding period) was no higher than that of bonds over the last 120 years as researched by Siegal. - stock prices are increasing faster than earnings/free cash flow/dividends, thus, decreasing the risk premium Possible explanations: - G&H - stocks are being revalued to reflect the real risk premium - The Economist - a speculative bubble - Greenspan - productivity gains What do you think? I'm betting it's a combination of the above three with bits added by a hidden fourth and fifth cause. I'm mostly in cash waiting for a 5-15% market correction in Jan.

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