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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (41521)9/14/2005 3:31:45 PM
From: ild  Read Replies (2) of 110194
 
Underestimating the Loss of a City
September 08, 2005

comstockfunds.com

We also don’t believe that the stock market is sending us a bullish message about the outlook. In October 1973, the market actually went sideways for two weeks after OPEC shut down oil exports to the West, and the pundits were similarly complacent. The market then dived 16% over the following six weeks and 45% over the next year. While the market may never be wrong, it often changes its mind, and we think that will be the case this time around.

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