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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (1711)	10/20/1998 1:22:00 PM
From: Hank Stamper	Read Replies (1) \| Respond to of 15132

"NASDAQ went down 30% peak to trough. Oh, Mama." Yeah, I guess my aside on the stock market drop tended to down-play the down-side. Here in Canada, our main index was down 30%. So we've been saying, "Oh Mama, eh?" (We talk different in Canada.) What do you mean by a "stealth recession?" Deflationary pressure and falling employment? I do, however, understand your comment that as CD investors are increasingly faced with diminished prospects for future returns, a significant portion will be directed into equities. My previous question was 'what makes the current period different from a market top? which favours large caps.' I think you've identified one feature, at least: market tops are usually characterized by inflation pressures and upward shifts in rates. The present environment is the opposite--we've got deflationary pressure (or, in USA at least pressure that mitigates against price increases) and falling rates. Ciao, David Todtman