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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: TwoBear who wrote (8674)	10/18/1999 3:02:00 PM
From: Bob Rudd	Read Replies (1) \| Respond to of 78666

TwoBear: This is hardly an original thought, but we're already experiencing a bear market [though not a crash] in the great majority of stocks. Certainly in nearly all the stocks that we look at seriously as value investors. Take out the top 10 or 10% of names in any broad index and I think you'll find the rest of the list meets most definitions of a bear market down 20+% from high's and so forth. The distinction between a crash and a bear is how compressed the decline is...opinions differ, but a one day drop of 10+% in the S&P [1000 dow points from here] would seem to fit. I'm also surprised the market has come down as much as it has considering how broadly 'expected' the October selloff has been. Rarely does the market live up to expectations. High cash is a good and prudent thing, IMO, given overall valuation, rising rates, y2k impact, and tax loss selling. But there are some names that are already serious bargains.