Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: James F. Hopkins who wrote (24648)	8/19/1998 10:39:00 AM
From: Daniel Ray	Read Replies (1) of 94695

Hi Jim, One big difference between Machiavelli's time and ours is that back then the people who owned the wealth were also the main players in governing the society; today our leaders pretty much without exception (IMO) do the bidding of the people who own the wealth; for this reason the markets historically do the same if a Republican or a Democrat occupies the highest office. As long as there is political stability in the most politically stable country in the world the markets reflect this stability by reacting to the fundamental factors you mention: <<if interest rates and oil stay tame we will likely go up a lot more>> But of course corporate profits must rise too. A quarter or two we can go on the expectation that better earnings will come, but as soon as earnings growth rate establishes a clear longer-term trend we will sell-off big time. The markets argue the point every day. Thanks for your many and always interesting comments. Will Rogers probably had a pretty narrow definition of 'man' Best wishes

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