Thursday, August 20, 2009

Minyanville article: Why Stocks Will Stop Defying Valuation Gravity

"Romantics have a word that best describes the stock market’s current levitation act: nostalgia. The newly emboldened buy-the-dips crowd, flush with cash and longing for the bygone days of beta-inspired rates of return, perceived the recent market swoon as yet another opportunity to defy valuation gravity and are apparently attempting to levitate stocks to new highs. Will it work?..."

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