Tabell’s Market Letter – April 15, 1955

Reprinted from The Commercial and Financial Chronicle Thursday April 7, 1955 – How High Is the Stock Market by Edmund W. Tabell Partner, Watson & Co. New York City Members New York Stock Exchange – Market analyst maintains recent market rise ensued from impact of past-due investor confidnce on previous undervaluation. Citing statistical differentiation from 1929 situation, holds on value criteria prices are now at only one-third of that boom level. Describes his attitude as conservatively bullish with intermediate terms commitments limited to less exploited situations with a minimum of downside risk; with a rise of the D.J. Average to 600 by 1958-1960 a distinct possibility. Differences from 1929 Technical Soundness