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

To: Justa Werkenstiff who wrote (14038)	5/30/2000 10:37:00 AM
From: Wally Mastroly	Respond to of 15132

U.S. May Consumer Confidence Index Rises to 144.4 from 137.7 (April was also revised up from 136.9 to 137.7) quote.bloomberg.com

To: Justa Werkenstiff who wrote (14038)	5/30/2000 10:53:00 AM
From: Carl R.	Read Replies (1) \| Respond to of 15132

The last really bad bear market we have had was in the 70's, and as you can see, that was not a good time to be in the Naz, particularly 73-74. I think that supports my point that if you don't have a growing economy, you don't want to be in a growth stock. It does point out that the worst period is the deceleration period when there is still a growth premium, but the growth premium is shrinking. The economy wasn't particularly healthy for the remainder of the 70s, yet once the growth premium was removed in the 73-74 period, the growth stock outperformed the S&P consistently for a decade as the growth premium was slowly restored. Interestingly the Naz also underperformed from 1986-1990. Perhaps someone else has a theory to explain this period. Carl