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To: gc who wrote (72061)	5/21/2000 8:25:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 152472

>>But it is true only to those folks who sold and "forgot" to get back in. History proves that if you hold through all the down turns, you will be much better off.<< gc, i'll assume you've done a little research in this area rather than repeating what has been said as though it is true. first of all, it is true that those that bought the 1929 high (at much lower valuations than we currently have!) made about 2% per year over the next 20 years. that is, those that were still alive. 20 years is not guaranteed anybody. i read an article where a guy concluded that buying the mania tops in the past (1929, early 1900s and late 60s) earned an avg of about 2% over 20 years. keep in mind that this 2% plus side came after some steep drops - 80-90%. few people could lose that kind of market money and rest assured that they could keep it invested. many folks lose their jobs during these time frames. once youget a few of the facts together, the buy and hold regardless of price mantra doesn't hold water through all markets. history says in 20 years we will see 2% (or less - this is the biggest stock market mania in history) annual returns after steep losses. go ahead and hold. but don't get grumpy if you are down 90% on your way to 2% gains over several decades. you are right, i don't know the future. i have a high degree of personal belief that we will eventually see rational pricing in stocks that leaves the naz hammered from current levels.