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Pastimes : Don't Ask Rambi
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To: Jacques Chitte who wrote (38613)9/25/1999 9:36:00 AM
From: Neocon  Read Replies (1) of 71178
 
I apologize for an inadequate recollection. I retraced my source, and what I was remembering was not the recovery from the bottom of the bear market to the '29 top, but the recovery from the single worst year to the previous position, which had already seen a large loss. You are right, it took a long time to get back to the '29 top. The reason I misremembered was that the book I had read made the point that most long term investors, entering the market before the sharp speculative spike preceding the crash and holding, would have recovered by about the mid- thirties, so it was a limited percentage of speculators who bore the brunt of the free- fall. Again, sorry!
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