Hey, do you recall that in 1974 there were a few stocks that actually sold at PE's under Two?
Sure. Heck, the whole market was trading at a PE of 8, or was it 6? Many "sure things" like Polaroid, Avon, IBM, TXN, DEC, MCD, KO etc. had come down a lot farther than the market itself. If we have a bear market now, we will see the present-day "sure things" like CSCO, INTC, MSFT et al suffering the same fate. No, it doesn't require the end of capitalism <g> All it needs is something that is found ONLY in capitalistic societies -- a bear market. |
