Really Fat Pizza, page-771

Jako great post as always, I read your posts every night without fail. Thank you. Always balanced and methodical even during the most awful few weeks

I note that you’ve sold down some long term holding and expect this market to go lower. It certainly seems the recovery won’t be as fast as recent ones. It is certainly already deeper and we look certain to head into recession (at least two quarters of negative growth)

Question - do you have an opinion on how low this market could go and/or is likely to go? Maybe 4873 holds, you also refer to 4000 in your post, 3600 would be 50% from the 7200 high, GFC low sits at 3200, or is 80% down for a once in a 100 style event ie 1929 even the slightest possibility?