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To: marginmike who wrote (123230)	9/18/2001 11:31:11 AM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

<<On a more serious note someone mentioned that at thelow in 1932 stocks were more overvalued then in the peak in 1929. The question, if that is the case how do we determine what valuations are relevant?>> Yeah, but the recovery after the lows was slow and tortured with lots of fits and starts, just like the low in 1974. Lots and lots of opportunities to jump back in, if you so desired (provided you didn't lose all your capital on the way down).