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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Allan Harris who wrote (8911)	9/27/1999 8:05:00 PM
From: Boca_PETE	Read Replies (1) \| Respond to of 15132

Allen H: RE:< Wasn't Brinker on the air in NY in the late 70's? > Actually Brinker started his New York pre Moneytalk Program during October 1981 on WMCA 570AM (Every Saturday, 6am -10am). On the Saturday during early August 1982 following the DOW bottom at 777, I heard him tell listeners "It's time to become fully invested". Nobody wanted to own stocks at the time. I believe there had been a feature article in Barrons titled "Are Stocks Dead". Naturally, I thought he was nuts and continued to invest my 401K in Short Term Corporate Bonds and GICS. You talk about 1976 being a good year, but I thought that the then bear market started at the very end of 1976 and lasted into 1978. BTW Allen, you are an excellent writer (in case no one has ever told you so). P

To: Allan Harris who wrote (8911)	9/27/1999 10:28:00 PM
From: Investor2	Respond to of 15132

RE: 1976 Thanks for your personal 1976 history. I enjoyed reading it. In 1976, I had been buying stocks for approximately than 12 years. Over the prior 10 years, the market had essentially remained flat. The DJIA was hovering around 1000, just where it was 10 years earlier. However, inflation had taken a significant toll on the actual purchasing power represented by my stock market investments. A few years prior to 1976 I had finally concluded that the buy-and-hold strategy was obviously no way to make money in the market. After seeing the Dow go from 1000 in January 1966 down to 700 in October 1966, back up to 950 in August 1967, down to 800 in mid-1968, back up to 1000 in late-1968, back down to 650 in 1970, back up to 1000 in 1972, back down to 600 in 1974, back up to 1000 in 1976, … well, you get the idea. Buy and hold was clearly for the birds. That was obvious to all. With the high inflation, owning "the market" was the best way to lose purchasing power around. Yes, by 1976 I had finally come to the very logical conclusion that the only way to make money in the market was to buy the dips and sell the peaks. I was just entering my speculative phase - trading stocks and call options. After 10 years of up-and-down markets, 1976 was just more of the same. From that perspective, I can agree with when you say, "What bear market?" And yes, I agree with you, 1976 was a very good year, at least as much as I remember about it. <g> Best wishes, I2