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Re: [sharechat] rational, sane investing vs the NASDAQ

From:	"P Maiden" <pmaiden@xtra.co.nz>
Date:	Fri, 22 Dec 2000 17:02:50 +1300

Hugh - some more facts about the dimensions of this insane investing .........

(From investorweb.com.au)

OK, who took that $US3 trillion ($A5,400 billion). That is the equvalent of ten Australian sharemarkets, and it is the amount of money that the Nasdaq Composite index has lost in nominal value since its high point earlier in the year.

The Nasdaq has lost 42% for the year, and is well on track for its worst year yet, exceeding its 35% decline in 1974. It has been a dreadful year for the technology standard-bearer, and it’s not over yet.

As you say Hugh - it's not all over yet. Even the S&P500 average PE is still near 25.

Merry Christmas to all.

Thanks Ben and the team for a great site - not often hasn't the news been updated by 6.30am - thats how dedicated Ben is, folks.

Peter

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