Re: Dow 36,000

John Clark (jonkc@worldnet.att.net)
Thu, 21 Oct 1999 12:36:42 -0400

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