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Strategies & Market Trends : The New Economy and its Winners

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To: Mark Fowler who wrote (8585)	9/4/2001 10:43:09 PM
From: Bill Harmond	Read Replies (2) of 57684

I think this recovery will be different from 1991 (credit crunch) or 1995 (banking industry consolidation), which were fueled by lower interest rates. The fed is pumping money for growth now, because (IMO) they realized they killed the productivity-producing new economy. You can see how bonds reacted to the NAPM report today...with the biggest single-day sell-off in what looks like a year. We have the Fed on our side. The bankers don't. I think interest rates are bottoming and capital will not get much cheaper. Financial stocks aren't gonna lead, IMO. BTW, look at the Insurance index (IUX). Talk about death!

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