an – lots of consumer companies did well during the 2000-01 recesion, bec. it was NOT a consumer recession, but a capital spending recession.
2000-2001 was a capital spending led recession, and the consumer kept on spending, so none of the consumer stocks went down, they just kept going up. That won’t happen this time. I bet JJ is overvalued, so they will go down with everyone else.
In 2000-2001, all Asian exporter stocks went down, except China, bec. it was selling mainly textiles and people were buying clothes, but not business goods. Commodity went down too. Check out Richard Duncan’s The Dollar Crisis.
an – you’re a smart guy, so I love debating with you. But here’s my problem – I am ready to start my own website, so I need to take a break from piggington to work on my own stuff.
Whole Foods is down now, I think. The others you mention – any have PEs below 12?
