Market Currents
"Bull markets typically end when valuations are extreme, the Fed is tightening monetary policy,...
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Monday, August 13, 2012, 12:54 PM ET"Bull markets typically end when valuations are extreme, the Fed is tightening monetary policy, and investors are over-enthusiastic about (stocks)," writes Richard Bernstein, explaining in less space than a Market Current why he remains bullish. (full note here)
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To me, that demonstrates that a lot of the "bad news" catalysts - Europe, fiscal cliff, unemployment, etc - are already priced into the market.