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Perhaps I was too general with the statement, I apologize.
--Pjs
R.Griess wrote:
>
> >The market bottomed when Nixon left.
> >--PJS
> >
> This statement is not true. The Dow was in the upper 700's when Nixon
> resigned in August 1974. The final bottom in December found the Dow at 570
> or so. In other words, the Dow did continue to go down another 20% plus
> after the Nixon resignation.
>
> What is different is the state of the economy. Don't forget we had the
> first of the oil shocks in late 1973 and the economy was not good in 1974.
>
> Ron Griess
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