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Politics : Ask Michael Burke

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To: yard_man who wrote (37136)	11/21/1998 5:45:00 AM
From: accountclosed	Read Replies (2) of 132070

I want to clarify my point a little. I wasn't trying to say I believed in some magical connection between 3 easings resulting in a 20% run for the market. I was trying to say that if someone studied data and found a correlation between any variable and market result, that finding causes the correlation to go away. In other words, correlations don't last. I do believe that easier money brings money to the market in a general sense. It may be that some participants thought there was a direct/quantifiable connection and rushed their money to the market after the second easing. But that line of reasoning was bogus to me. "Pay no mind to the valuation level...just 3 easings and the market goes up 20%" is pure hs.

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