Bisciari, Patrick; Durré, Alain; Nyssens, Alain - 2003
31 December 2002 is situated in a very long term perspective. It then appears that some bear markets were more pronounced … in the past but that the bull market preceding the 2000-2002 bear market had been particularly long and impressive in … extent. Given this sharp correction, we will discuss whether the S&P 500 was correctly valued at the end of 2002. To this end …