Monday, September 29, 2008

New bear market low

The bear market just keeps plodding along. The S&P 500 index briefly touched an all-time bear market low of 1126 1112 after the House of Representative voted to reject the $700 billion financial bailout bill.

For some perspective, the index closed at the 1126 level on January 7, 2004.

It also closed at 1126 on April 21, 1998.

My next task is to calculate how much money was wasted on "price-enhancing" buybacks during these intervals...

2 comments:

Cathy said...

Interesting times . . .

Waiting patiently for your signal.

linc campbell said...

I can answer your question quite simply: a lot, at least by today's price. Although I would say that the value might actually be amplified right now because the companies that are sound yet being sold will likely slingshot when the secular sell-off is done. Granted, that won't occur until confidence returns, and thata may be quite a while.

Fun times.