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To: Ilaine who wrote (17038)	3/19/2002 11:29:04 PM
From: LLCF	Respond to of 74559

<My research shows that the Wilshire 5000 was started in 1974. > They use that as proxy for mkt cap of the market... it has way more than 5000 now. DAK

To: Ilaine who wrote (17038)	3/20/2002 7:27:55 AM
From: orkrious	Read Replies (1) \| Respond to of 74559

My research shows that the Wilshire 5000 was started in 1974. I don't think there were 5000 stocks traded on real stock exchanges (as opposed to curbsite and penny stocks) in 1929, much less 1925. Clearly, the Ned Davis Research comments I quoted intended to show stock market cap as a % of GDP. The fact that the Wilshire index didn't exist in 1925 is irrelevant. As long as the total in the numerator for each period roughly approximates the value of the majority of stocks, who cares?