 | ||||
Wednesday, July 17 | ||||
Compare The Bear -- 1929
(Amex Internet Index, Nasdaq 100 Index, Dow Jones Industrial Average)
I compared the current bear market in the U.S. to the Japanese bear market in a previous entry. Now let's look at how it compares to the 1929-1932 bear market. The Dow bottomed in the middle of 1932 down 89%. You can see that the Internet Index has already dropped about the same amount. Perhaps the Nasdaq 100 will bottom next summer down 89%, making its collapse a perfect comparison to 1929. "...unless you recognize that you have to take action to prevent [markets] from overshooting, they will, in fact, overshoot, and this wonderful global economy which I admire and enjoy would be destroyed. It has been destroyed in the past. And I'm afraid that it might happen again unless we recognize, you see, that markets are not perfect." -- George Soros |
|
|
|
Home © 2002 |