thinking long term

Doug Henwood dhenwood at
Fri Mar 17 06:22:39 PST 2000

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!


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