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Politics : PRESIDENT GEORGE W. BUSH

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To: Karen Lawrence who wrote (272793)7/10/2002 4:17:22 PM
From: Neocon  Read Replies (1) of 769670
 
Most investment is institutional, and not prone to heavy trading, because pension funds and such are risk averse, and inclined to broad diversification. The movement in the market mostly comes through a relatively small group of affluent speculators, which does not tend to buy and hold, but is eager to beat short- and mid- term movement in various stocks. Among consumers in general, the group of people who play stocks seriously, or invest in funds with aggressive growth strategies, is small. They are not a valid indicator of general consumer confidence. It is like basing economic forecasts on the behavior of professional gamblers in Atlantic City........
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