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Politics : Ask Michael Burke

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To: BGR who wrote (48207)	2/21/1999 9:55:00 PM
From: Eggolas Moria	Read Replies (1) of 132070

<< inflation is low, the economy is strong, and baby boomers have no place else to invest their money Isn't that a rather accurate description of reality?>> Two out of three are correct. The first two, to be precise. However, the third leg is a preference, not an absolute. Baby boomers want to invest in stocks right now, but there are other asset classes. Whether or not they are as attractive on an absolute or risk-adjusted basis will depend upon a multitude of factors, including performance, recession, etc. "It's different this time" and "there's no place else to invest" are of similar class. That's not to say that I disagree that the clear preference has been and continues to be equities. It is only to say that external events can change the situation.

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