thinking long term

[Doug Henwood]

Today's Wall Street Journal reports on why Old Economy stocks have 
been booming over the last several days. The star of the piece is a 
mutual fund manager, whose thinking is reported thus: "For his part, 
Mr. Ognar says he has been trying to anticipate what kinds of stocks 
would start performing well six months from now, when he anticipates 
that the Federal Reserve will have ceased to ratchet interest rates 
upward."

That's the New Economy for you - no recession, no bear market, just a 
half year of bumpiness before the all clear is sounded. God bless 
America!

Doug