Is the stock market too high?

From: Business and Economic Review | Date: July 1, 1998| Author: | Copyright information

That's the wrong question, because despite periodic declines, the historical pattern of stock market movement is a stairway going ever upward.

"Most investors should have most of their investment money in the stock market." This comment, when made by a supposedly conservative adviser to general audiences, is typically greeted with an uncertain silence. What follows is a discussion of why I believe it to be prudent advice. First, though, some definitions.

When used by me, "investment money" is money remaining after high-interest debts have been eliminated and a cash fund established for ...

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