the way i look at it, in a bull market some companies rise way...

the way i look at it, in a bull market some companies rise way above fair value, people lose all perspective and pay ridiculous amounts for a lot of hot air.

a bear market is not much different, except that its in the opposite direction. people lose all perspective and give away gold bars for peanuts.

but having said that i dont think we have seen the bottom yet.
sure there are some bargains and some companies trading at good P/Es, but you also have to realise that a lot of earnings will drop...and it will also take time for market sentiment to turn around.

some fortunes will be made in this environment, but many more will be lost.

this is the kind of market that will see many traders lose it all, even some experienced traders.

even those fully in cash could get hurt if a major bank falls over and they cant get their money out.

i dont think thats likely, but one of my mottos is:
"expect the best, but prepare for the worst"