“This is not a junk stock rally,” said Lieber, who helps manage more than $7 billion in Purchase, New York. “This is a restoration-of-confidence rally. This is a business confidence rally.”
The message of this and related headlines is clear. A strong stock market equals a reviving economy. Repeat often and many will come to believe it.
When stocks outperform gold long enough to eclipse the devaluation adjusted highs in 2000, someone can wake me. Until then this is nothing more than MOPE (on a rope). As long I can rope a greater fool into buying my shares at a higher price, it’s called a recovery. Deja vu anyone?
Source: bloomberg.com
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