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Politics : High Tolerance Plasticity
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To: diana g who wrote (550)2/28/2001 11:14:22 AM
From: Timelord   of 23153
 
diana:

Just read that the other day. It probably relates to a market guru from the early 70's named Edson Gould. His forecasts were based on Fed movements, and basically said that three tightenings led to a bear market and vice versa. He apparently gained his success in the bear market of 1973-74, then faded to obscurity when the market changed, and his forecasting methods stopped working. I believe he popularized the phrase "three steps and a stumble", which I've heard used before.

Alex
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