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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: BDR who wrote (22185)4/4/2000 12:25:00 AM
From: Bridge Player  Read Replies (1) of 54805
 
<< and finding myself facing a situation such as that which occurred in 1987 or '73-'74.>>

Dale,

To the best of my recollection, without looking things up, 1973-1974 (in particular at and near the lows), was characterized by the following:

The major averages selling at 8 or 9 times trailing earnings
Many, many fine small growth companies with histories of
compounding earnings at 15-20%+ selling below book value
and at 4 and 5 times earnings
Inflation double current rates and headed higher
Exactly one (1) stock (at the bottom) on the NYSE selling
for more than 14 times trailing earnings...Baxter Labs
Over 400 new lows on a fairly regular basis
Hundreds of stocks down 80-90% from their 12-month highs

Please do not compare today's decline to that era. There is literally no comparison.

BP
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