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To: jjstingray who wrote (42701)6/20/2002 3:34:39 PM
From: marginmike  Read Replies (3) | Respond to of 209892
 
Jim Grant made the best point at 40 trailing 20 forward earnings on S%P in the best case, assuming you believe estimates, that we are a litlle over fair value. Bear market lows do not come at fair value, which says we have 20-40% togo. The stuborness of bulls, and Money managers and media also makes me feel it will be a slow grind until people finally quit. I dont see a bottom till sometime next year.


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