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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Victor Lazlo who wrote (17756)3/19/1999 9:37:00 AM
From: Alastair McIntosh  Read Replies (1) of 18691
 
Victor, you posted:

1. The market has been "overvalued" for about 16 years or more.


Actually, according to the fed funds model the S&P 500 was slightly undervalued for most of 1994, significantly undervalued for all of 1995 in to the spring of 1996 and fairly valued until 1997. The S&P 500 was as much as 15% undervalued at the end of September last year.

Al
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