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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (6295)3/14/1999 2:10:00 PM
From: jeffbas  Read Replies (1) of 78615
 
Paul, are we looking at the same chart? Your reference is what I looked at in saying:

"From late 1986 to early 1998 Deere's stock went up roughly 10 times in almost a straight line, with only a two year sideways consolidation."

Any patient long term investor would have done exceedingly well on Deere buying at any point during a ten year period. I wish I had owned more stocks like that.

A much fairer comment would be that the extraordinary performance of recent years will not be ready to recur after only a one year correction, or that it may never recur. I actually subscribe to the latter view, that it will never recur. However, looking for a double by NH in 5 years (after a 70% drop to about 75% of book value) is only a pale shadow of former DE performance.
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