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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (8340)9/23/1999 9:29:00 PM
From: jeffbas   of 78911
 
I am still of the opinion that we will break 10,000 on the Dow, at which time people will panic, "the sky is falling", etc and throw in the towel. This will create the bottom of the range for a while. I also believe that the odds of a new high next year are less than 50/50. Finally I do not think we will see a 20% gain for a year in the Dow for many years, unless it is in the aftermath of a bear market. Although I believe the "glory days" are over, I am not persuaded that we are due for a traditional bear market as so much of the market is not overpriced.
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