By the Way: The Latest on Jim Stack
>>I don't subscribe to Mr. Stack's newsletter, so don't know if he's now switched from being exceedingly bearish to bullish<<
Here's a blurb about Stack's views:
Forbes Newsletter Watch
Investment Gurus Converge On The Big Apple
John Dobosz, 10.24.02, 8:53 AM ET
<snip> For investors who need to be reminded that we are indeed still in a bear market, there's Jim Stack of Investech Research, who made the trip to the Big Apple from his bucolic perch in Whitefish, Mont. Stack has used a lot of ink warning his subscribers that stocks are still not out of the woods. For several years, Stack has been critical of Fed policy that he says created the equity bubble and the disastrous aftermath. Stack's sobering perspectives force investors to consider the unpleasant possibility that U.S. equity markets are doomed to follow the lead of Japanese stocks caught in the funk of a 13-year bear market. Stack does see some evidence that the bear is near its nadir, such as the downturn's duration and damage to the major indexes, as well as the pervasive pessimism on the part of investors and advisers. Nonetheless, persistent economic weakness and declining consumer confidence, says Stack, suggest that the claw of the bear may send stocks lower still.<< |
