|
PureBytes Links
Trading Reference Links
|
Felix wrote:
> Wallstreet should one day show its gratefulness to Greenspan by putting his
> statue riding the bull.
But Greenspan isn't responsible for the Bull market, no more
so than Bill Clinton. This connection is naive and just stand
up to scrutiny. A study of hikes and cuts along side the
longer history of the stock market over the last 70+ years reveal
that interest rates have only the shortest term affect on investor
psychology. If rates controlled the market, it wouldn't have
continued to climb from the depths of the '74 bear while rates
continued to ratchet up to their highest in recorded history,
nor would the market have continued to crash in '30 when rates
went affectively to zero.
|