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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: regli who wrote (28948)	4/29/2005 12:24:20 PM
From: mishedlo	Read Replies (1) of 116555

comstock article comstockfunds.com Snip.... In the late 1990s we wrote a lengthy report with the above title at a time when investment advisors, strategists and economists were exclaiming that all one had to do was ignore the stock market fluctuations, invest in stocks at any time, and watch your nest egg return an average of 10% per year. We pointed out that although there was a kernel of truth in the argument, investors were actually running great risks in buying stocks at excessive valuations near the end of secular bull markets. Although valuations are somewhat lower than the ridiculous heights reached in early 2000, the cyclical bull market since October 2002 has once again put the market in a position where the risks of losing money--or at least not making any—are once again very high.

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