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To: James F. Hopkins who wrote (40748)	10/13/2000 10:08:40 AM
From: GVTucker	Read Replies (2) \| Respond to of 77399

Jim, RE: We can forget the 29 crash, or the rhetoric that it ever recovered.. It never did The depression ended with WWII , but the 29 market did not recover and the brokers that want you to think it did are shape shifters. Actually not one stock ever recovered, GM was selling for over $500 in 29, what happened over time was New Issues were brought in and the index was re-made. That is highly inaccurate. For example, General Electric has been in the Dow since its inception. GE recovered to its '29 high a long time ago. It reached an all time high this year. If you look at the list of Dow components when the market crashed in '29, there are still a good number that are in business today. And most of them are higher. A lot of them are even still in the Dow 30 Index: Allied Chemical General Railway Signal Sears, Roebuck American Can Goodrich Standard Oil (N.J.)--now Exxon, still in index American Smelting International Harvester Texas Corp. American Sugar International Nickel Texas Gulf Sulphur American Tobacco B Mack Truck Union Carbide Atlantic Refining Nash Motors U.S. Steel Bethlehem Steel North American Victor Talking Machine Chrysler Paramount Publix Westinghouse Electric General Electric--still in index Postum Inc. Woolworth General Motors--still in index Radio Corp. Wright Aeronautical Of those stocks, all the ones still in the index have since hit an all time high. GM exceeded its all time high from '29 in the 50's. A host of other stocks have obviously also exceeded their highs from '29, current dow stocks like AT&T or KO. Yes, there are many stocks that never got to their old highs. And yes, there is a survivorship bias in almost every data sample that looks at 2000 index data vs 1929. But to say that no stock ever recovered from its 1929 high is absurd.

To: James F. Hopkins who wrote (40748)	10/13/2000 10:56:08 AM
From: Monty Lenard	Read Replies (2) \| Respond to of 77399

Jim I am nibbling on a few myself. Real companies away from the tech sector that don't cook the books so bad and don't have so much hype and dilution. New Issues were brought in and the index was re-made. Well they are still playing that game. :-) Monty