08-28-2009, 09:56 AM
Well 30% down to me actually sounds correct. You have to remember that companies were bid up to levels that did not represent reality. The Dow never should have been 14k in the first place. We are probably at a more realistic level, and I think we will have another pullback, maybe towards the end of the year. But also consider the huge amounts of inflation we are headed for so any pullback will be made worse by the dollar being worth nothing.