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To: 16yearcycle who wrote (3722)12/6/2000 12:20:26 PM
From: Tom Kearney  Read Replies (1) | Respond to of 57684
 
Gene - I have to say that if we get back to those extreme valuations again, I hope I would be smart enough to take a bigger piece off the table next time!

We keep hearing people say there is not enough fear in the market, even now, that people are too bullish still. The theory James Glassman proposed in 'Dow 36,000' was that as people become more educated about the market, and become aware that long term, stocks out perform bonds 2 to 1, even including bad times, the risk premium on stocks would go down. I am not brave enough to say this is what is happening. But, this what it would look like.

Regards,
Tom