From the Wall Street Journal.

Much has been made of the Dow suffering through its third year in a row without a net gain--a feat, we're reminded repeatedly, not seen since the Great Depression. Of course there's a big difference between stock prices that are flat and low and those that are flat and high. Today's Dow is still nearly 2,000 points higher than when Alan Greenspan uttered the words "irrational exuberance." For that matter, stocks are up eightfold since 1982, when President Reagan initiated the long boom with policies resembling those now being championed again by the Bush Administration.

Hey, I haven't dumped my stocks yet.