Economist Online
SUBSCRIBE:

Thursday, May 14, 2009

Prudent Bear: S&P 500 to go down to 400

Being as provocative as it is, the history of stock market shows big bear market often ends with overshoot on the downside (another way of saying mean-reverting). We haven't seen that, not yet.




Plus, with recent market rally of nearly 40%, the market no longer looks cheap.