caveat emptor

Famous last words.......

http://www.ampcapital.com.au/K2DOCS/BB81C0A3-C51D-42BD-913A-998A90FA46C0/OINo.33.pdf?DIRECT
Edition 33 – 2 October 2007
Shane Oliver, Head of Investment Strategy
& Chief Economist (AMP Capital)
The 1987 crash – what is the
risk of a repeat now?

"While shares are at risk of a correction, there is no reason to expect a big slump and our view remains that the trend will remain up."

"After rising sharply from their recent lows in August, shares are due for a bit of a pull-back and weak US economic data may be a trigger. While another crash can never be ruled out, given the fickleness of investor confidence, the situation today is not comparable to that in 1987. Share price gains have been much more restrained relative to profit growth and valuations remain reasonable and far from bubble extremes. As such, nothing points to a major crash or the start of a bear market around the corner."