PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Neocon who wrote (42789)	10/4/2000 11:25:27 PM
From: Zeev Hed	Read Replies (3) of 769667

He said 10 years, and during the last seven we had a democrat in the white house (a strange correlation by the way, during Democratic Administration there is more growth on WS than during Republicans). You got to look at the possible fact that the excessive growth in equity has brought the PE on the S&P to 3 times its norm of 10. You may end up over the next 10 to 15 years with a market like in the period of 1966 to 1982, where we had 16 years where the market was stuck between 500 and 1000 on the Dow. Even if you assumed a "historical growth rate of 10%", can you assume that mom and pops will not bail out of equities at bottom and jump on the band Wagon at tops. WS has always arranged for that in the past, they sure would love to see another $100 B per year they can confiscate. This year in year out. Gosh, collectively they don't make that much right now. the best stocks will be the like of Merril if this scheme is adopted. Zeev

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