Wed Feb 6 2013
On Page A 13 of today's WSJ, Rich Kalgaard, the publisher of Forbes, declares the 2009-2013 stock rally that isn't. He then compare is with 1982-2000. As readers of TMP realize this is not a valid comparison. 1982-2000 was an era of positive social mood and therefore an expanding market. Now we are in a market with social mood reversing every few years. As a result the averages are cut in half from 2000-2003 or 2007-2009 and then gain 100%+ in the ensuing rally.
He concludes that
stocks could do better if tax monetary and regulatory policies were shaped to provide a 1982-2000 period.
Sorry Rich but taht won't happen until the mood changes and the heavy handed administration is replaced. We will be waiting until after 2018 for that to start happening.
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