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To: sammaster who wrote (74270)	3/1/2001 10:45:53 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

July 8 '32 to be precise. the economy was in depression for years...however, there was a bull market in stocks from mid 1932 to mid 1937, followed by another vicious bear market that took prices back to '33 levels by April '38. prices briefly recovered, only to crash again in 1940, and again revisit the levels of '33 in mid '42. it took a world war to bring the economy out of its slump. so in order to profit from stocks between mid '32 and mid '42 (the year in which the utility average made its final low, a full 97% off the '29 peak...that's what's in store for the internet indexes in case you're wondering...) you had to trade...there were only two REALLY good stock market years, '35 and '36, during which a buy and hold strategy worked. btw, in 1946, after the war had ended, there was another market crash...prices then went sideways until '49, the official end of the k-winter. from there the great bull of the 50's and 60's began. the top of '29 was first seen again in 1954, a full quarter century after the crash.