Quote of the Day: Paul Desmond on Bear Markets

Saturday, June 28, 2008 | 03:00 PM

Your mileage may vary:
>

"In the average bear market, the Dow Jones Industrial Average has fallen 30% and sometimes much, much more. The Dow decline of 2000 through 2003 involved a loss of 55%, the bear of '73-'74 caused a 50% loss and the 1929 market wiped out a full 85% of the Dow's value."

"We think we're still quite a ways from a bottom. Over the next year, the Dow could fall 30% to 50% from its October '07 top. The market could enjoy a few short-lived rallies during that span, like the one we experienced from March through May. But each rally is apt to result in a lower high and a lower low in the market."


-Paul Desmond, Lowry Research, quoted in Barrron's



>

Previously:
Q&A: Paul Desmond of Lowry's Reports  (February 2006) 
http://bigpicture.typepad.com/comments/2006/02/qa_paul_desmond.html

Part II -- Q&A: Paul Desmond of Lowry's Reports  (February 2006) 
http://bigpicture.typepad.com/comments/2006/02/part_ii_qa_paul.html

~~~


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first!!!

Posted by: firsty firsterson | Jun 28, 2008 3:18:51 PM

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