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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Wren who wrote (2849)	8/11/1999 8:18:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 3339

So far these are only minor declines in comparison to many earlier bear markets. For all the misery ascribed to Internet stock holders and day traders, the general investing public has yet to feel much pain at all--and given the size of the last few years' increase, there's room for another 20% downside before anything like real panic might set in. Every sober evaluation, however--even of the soundest blue chips--comes up with at least a 40% overvaluation. And in the later stages of a bear market, prices can overshoot on the downside well below reasonable value. It seems unlikely that over the next few years, anyone holding US stocks will make much money. The best that could happen would be a stagnation at somewhat lower levels, like the Japanese market. But the US stock market typically does not stagnate. It's either rising or falling, and falling seems more likely right now. Just some repetitious ramblings from an unreconstructible bear. Not permambear, however.