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Technology Stocks : Ascend Communications (ASND)

ASND 211.05

-0.7%

Dec 1 3:59 PM EST

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To: Orhan Birol who wrote (23080)	11/13/1997 6:58:00 PM
From: sea_biscuit	Read Replies (2) of 61433

Here is a link to an article that is actually a diary written during the bear market of 1973-74 : kiplinger.com Some of the statements are eerily familiar -- especially the one in the beginning that goes, "Over time, the economy has become less and less vulnerable to booms and busts" (this statement made on the very threshold of the bear market!). And further along 1973, the oil crisis being described as having "only a token effect on the US economy" (of course, we now know what happened after that!). The article also describes how the hi-flying stocks had their P/Es reduced by factors of 5,6,7 or more, over a period of 21 months... Good reading. I think there are some lessons to be learnt there. For, as they say, "those who refuse to learn from history are condemned to repeat it"! Dipy.

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