A.I.M. Users Bulletin Board

[areokat]

A Beautiful Market Kenneth L. Fisher

http://www.forbes.com/forbes/2002/0916/160.html
Not your normal read on the market-Hope he's right. TomK
<snip>
How beautiful? Count the ways. First, big is beautiful. Big bear markets are followed by big rallies. There are no exceptions. This bear, with a 48% decline in the S&P 500 at its worst point this summer, falls in the middle of the range of the seven big bear markets of the last century. With the exception of the Great Crash, which took the Dow down 89% between 1929 and 1932, big bear markets have sliced stock prices 42% to 55%. But if you think this is like 1929-32 you are delusional: Absent are the 1930s' massive global trade barriers, the massive worldwide destruction of the quantity of money and the massive economic dislocations.

Following all the big market drops came 12-month advances, ranging from 29% to 65%, with a 50% average. That's big. And beautiful.