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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (22122)	8/5/2002 1:02:15 PM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 74559

>>There is one factor Mr. Graham's model could not foresee<< hint - whatever Ben Graham's model, he knew how to hedge and went short 1929 and later considerably - not enought tho, because he lost 20% 1929 and "staggering 50.50%" in 1930 (so much about 1929 being the killer year). Just as a sideline for those who think Ben Graham equals "buy and hold". re derivative financing: one thing he never would even in his dreams foresee is the Greenspan's put. BTW I really appreciate the ref - I lost it some time ago (sg) but now it's firmly in my hands (courtesy of jetlinks *) dj PS: recommended - manfred-dahlhoff.de