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To: bill meehan who wrote (17948)	2/4/1999 8:54:00 AM
From: wlheatmoon	Read Replies (1) of 86076

What you think about this analysts' take? Biggs predicts a correction Morgan Stanley Asset Mgt. chair says market will finish year down 5-10% February 3, 1999: 8:02 p.m. ET NEW YORK (CNNfn) - A noted market strategist said Wednesday he expects a significant correction on Wall Street at some point in 1999. Barton Biggs, chairman of Morgan Stanley Asset Management, told the Moneyline News Hour with Lou Dobbs that history indicates the stock market will likely experience a 20- to 30-percent correction sometime this year. "We've lived in a paradise for a number of years," Biggs said. "In this century, we've had at least a 20-percent correction every three years. We had a 20-percent correction last year, but that was after about seven years." Biggs also predicted that the market will likely finish the year down between 5 and 10 percent, though he wouldn't speculate on what factors would initiate the decline. Biggs also counseled investors in how to handle a future market downturn. "If you're a long-term taxable investor, you should ride it out," he said. "If you're not, you should take some cash."

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