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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (82012)	3/17/2001 7:18:43 PM
From: robnhood	Read Replies (2) \| Respond to of 436258

Got this from the bearforum--- interesting I thought--- an article written just after the market bottomed in 82 <<A better yardstick is book value, which shows that today's market is no higher than the darkest days of 1974. ''The S.& P. 500 hasn't sold below book, and the Dow hasn't sold more than 20 percent below book since 1932,'' pointed out Morgan Stanley's Mr. Biggs. In 1974, the S.& P.'s price divided by the book value of its component companies was 1.0 while the Dow's was 0.8. Today the S.&P.'s is again 1.0 and the Dow's is a shade lower, 0.78. >> nytimes.com