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Strategies & Market Trends : The Art of Investing

PICK 47.48

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Nov 28 4:00 PM EST

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To: Frank Sheridan who wrote (758)	7/23/1999 4:43:00 AM
From: Sun Tzu	Read Replies (1) of 10653

You are smart for not listening to this "guru". I find it very unlikely that the Fed will try to dictate where the stock market should be. Greenspan got a fairly big spanking for even gently suggesting such a possibility in his "irrational exuberant" speech. Having said that, we are so deep in uncharted waters in terms of the valuations, that any reversal to the mean would require a 50~75% drop in the market. It may be that the new mean value is higher than the old one and that eventually we'll experience a 30% drop. But I have no idea when that time will be and what will trigger it. good luck, ST

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