Alan Greenspan MUST GO: Message Board

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Pastimes : Alan Greenspan MUST GO:

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To: Master (Hijacked) who started this subject	3/4/2001 2:15:40 AM
From: wdlngduc	of 494

From Barron's, Alan Abelson's column: dated 3/05/01 "Value of all NASDAQ stocks from September 1, 2000 to February 28, 2001 shrank by $2.9 trillion! Value on the Big Board by $1.2 trillion. Total disappearance: $4.1 trillion in just six months! This is equal to 40% of GDP. The combined market capitalization of the NYSE and NASDAQ on Sep 1 was $189% of GDP, and 147% of GDP by Feb 28. By this measure, the damage was slightly greater than the twenty-one month Bear market that ended in October, 1974." Abelson went on to ponder about how unpanicked the investing public is by its stalwart bullishness in the face of such wealth destruction. He suggests that this Bear cannot be routed until fear replaces complacency; a not unfamiliar sentiment expressed by many professionals. Of course, he has several choice opinions about the Fed chairman. You will chortle when you read them. But only if you have retained your sense of humor, that is!

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