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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.12-0.4%3:59 PM EST

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To: Skeeter Bug who wrote (39316)8/12/2000 11:57:19 AM
From: Seeker of Truth  Read Replies (1) of 77400
 
Market capitalization/GNP is now 171%, in 1929 it was 87%.
In those days a huge portion of big business was not public. So the stock market did not represent so much of the economy as it does now. This was far less true of course, in 1987, but that drop was lightning fast and the complete recovery took only a few months. Really you are comparing apples and oranges with this point. If you want to quote bearish statistics try the return on capital and the P/E's, Both of these are dropping from their record highs but they have a long way to go to get back to an average situation of the past.
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