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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (72154)	12/21/1999 10:02:00 AM
From: Les H	Respond to of 132070

I was just disputing that 1974 to 1982 did not have bull markets, primarily in the natural resource and small cap stocks. If you look at the S&P 500, it was fairly stable after the recovery in 1975 from the 1974 lows. Intel was part of the Nasdaq OTC. Oil stocks were almost 30 percent of the S&P 500 market cap by 1980. If you bought at the bottom in 1974, stock selection wasn't much of an issue after the 50 percent decline in stocks. I did not post the prior message re: the 1974-1982 regarding your stock-picking ability. The popular media portrays it as a bear market. If the Dow Jones and S&P were changing index components as fast as they have the past 15 years, would things look considerably differently.