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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: marc ultra who wrote (7479)8/5/1999 3:11:00 AM
From: Math Junkie  Read Replies (1) of 15132
 
<<I do however believe when the history of this bull market is written there is a reasonably good chance July 16th 1999 will end up in the history books as the final top.>>

I would have to disagree. Yes, the economy is growing faster than Mr. G is comfortable with, and yes, leading inflation indicators are flashing danger signals, but why is everyone assuming that the Fed's tightening will not succeed in reining them in? Yes, valuations are near all-time highs, but are a possible three 1/4 point moves really enough to turn this into a bear market, as opposed to a correction? Yes, sentiment is very bullish, but this seems to be abating.

The thing that worries me, as a possible cause of the end of The Great Bull Market, is that many of our politicians seem all too eager to abandon the fiscal restraint that got us here in the first place. Fortunately, it appears unlikely that these forces will prevail, at least until the next presidential inauguration.

After that, anything could happen.
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