John Chang
Jedi
Two comments:
1. Industrials made a new "high" in '72, before going into a nasty bear market. One guy on a trading board about 1972-74 said something like they went down almost every single day during those two years. In constant dollars Industrials were below the high they made in 1966, when it peaked in '72. 1966 to 1972, that's 6 years or so.
2. In constant dollars, Industrials are still below their 2000 high. They would have to go to something like 13000 to break even again. 2000 to 2006, that's also 6 years or so.
Far be it from me to say history repeats. Mark Twain said something like it sure does rhyme though...
1. Industrials made a new "high" in '72, before going into a nasty bear market. One guy on a trading board about 1972-74 said something like they went down almost every single day during those two years. In constant dollars Industrials were below the high they made in 1966, when it peaked in '72. 1966 to 1972, that's 6 years or so.
2. In constant dollars, Industrials are still below their 2000 high. They would have to go to something like 13000 to break even again. 2000 to 2006, that's also 6 years or so.
Far be it from me to say history repeats. Mark Twain said something like it sure does rhyme though...
