The year 1929 and 1987 were crash year, and, as I discussed in chapter 2, 1973 was the beginning of a long bear market. Consider how these events are portrayed in figure 4-3. Prior to 1929 and 1973, price lies well above fundamental value. Shortly after those years price falls below fundamental value. The lesson here is that prices move away from fundamental value for long periods, but eventually revert.