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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: hdl who wrote (184034)7/27/2002 4:25:33 PM
From: Tommaso  Read Replies (1) of 436258
 
>>> Well, certainly the market cannot look much worse than it has over the
past several weeks, Yesterday morning, the decline of the Standard & Poor's 500 Index surpassed the horrible
1973-74 bear market, before posting a strong afternoon rally<<<

sharelynx.net

The S&P 500 declined by 54% --from 120 to 65-- in 1973-74.

If it declined that much now, it would be down to about 790.

Now Siegel is closer than I thought he was, since the S&P did close at 852, but I think it has another 8% to drop before it equals 1974.

But even at a level of 790, the P/E and yield of the S&P would be much higher than in 1974. It has dropped in the last two years from a much higher overvaluation.

quote.yahoo.com^GSPC&d=c&k=c1&a=v&p=s&t=2y&l=off&z=m&q=l

Lots more room to drop, IMO.
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