From: John Clark (jonkc@worldnet.att.net)
Date: Thu Oct 21 1999 - 10:36:42 MDT
Robin Hanson <rhanson@gmu.edu> Wrote:
>The analysis at:
> http://www.econ.yale.edu/~shiller/peratio.html
> offers good reasons to suspect that US stocks will
> do very poorly over the next ten years.
They offer reasons stocks will do very poorly over the next
10 years but I wouldn't call them very good reasons. Perhaps I'm
prejudice but I don't think "technical analysis" is any better than
reading tea leaves in predicting the future. It should also be
noted that they made their prediction in January of 1996, nearly
40% of their specified time period has already passed and the
stock market is FAR higher now than when they wrote their
pessimistic article. If I'd have taken their advice I'd have
missed 4 years of the most bullish market in history and be a
much poorer man today.
John K Clark jonkc@att.net
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