Obviously, you are not talking about value when you forecast DJIA 3500 in 1988, but Alice in Wonderland Emotions run deep. I find investment conferences exceedingly helpful at market extremes for this reason. Without exception, over the past twenty years, those who ran contrary to the popular illusions reaped big rewards in the stock market. I found that March 1987 produced the most lopsided consensus I have seen since October 1974 when I spoke at the NAIC conference in Detroit at the bottom of the biggest bear market in half a century. Here is one company which I am reasonably certain will be around long after most of us who read this column.
Business is conducted throughout most of the United States and in western Canada.
This division also has six plants which rebuild small automotive parts. The Office Products Group distributes a broad line of products including information processing supplies, office furniture and machines. Many office products carry the Sparco name and are distributed from 27 centers located in 18 states. The Automotive Parts Group operates six plants where small automotive parts are rebuilt and distributed under the name Rayloc. Also in this group is Balkamp, Inc., a majority-owned subsidiary, which purchases, packages and distributes approximately 16.000 automotive service and supply items to NAPA Distribution Centers.