soros warning,is he right??, page-2

This is the part that stands out for me....
"""Room to fall
The S&P index presently trades at 12 times average earnings for the past decade, while in previous market bottoms it has reached as low as seven, which implies a near 50 per cent drop in stock prices is possible from current levels.

The pattern of 1929-30 included an almost identical 50 per cent stock market fall, a 25 per cent rally in March, followed by a drift sideways in April and a huge plunge in June. Given the (bankruptcy) timetable for GM it looks as if history might repeat itself in 2009. """

Dave R.