Larry Pesavento Update

Tom O'Brien talked with Larry Pesavento again this last Friday and clarified his doomsday market call the other day. Larry believes that this current bear market will be longer than two years.

So as I assumed, he judges the severity of bear markets on the basis of time rather than price. Don't expect at 70% + decline.

In an interesting side note, Pesavento uses cycles in much the same way that Charles Nenner does. Nenner has predicted a choppy up-and-down market for 2008.

January 18 2008 Pesavento Interview