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I posted a piece earlier about one test of a bottom. The other, which
also happened in the 70s, is to see all these mutual funds start to
disappear. They will go out of business one by one. I don't remember
the number left at the end of 1974 but I believe it was 21. I could be
way off there, but that is what I remember. Does someone have the
number of mutual funds in 1968 and those left in 1974? How many
thousand funds did we have at the hay day the first of last year. I
know from friends of mine that a lot of financial advisers are no longer
in business. Their performance caused some real pain for their
clients. Ira
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