From Library Journal:
Leeb claims to have found four conditions which obtained during the two previous long-term bull markets of the 1920s and 1950s/1960s and which are currently in place: real growth greater than inflation, bond yields twice the inflation rate, short-term rates lower than long-term, and growing money supply. Four "deep-rooted trends," Leeb says, are responsible for the re-emergence in August 1982 of these conditions: changing demographics, rise in entrepreneurship, deregulation, and the dawning of the information age. It remains to be seen if the presence of these conditions, if uninterruptedly favorable, is enough to justify the author's 8- to 19-year projection of a Dow average of 4200-4500. Nevertheless, this title should stimulate investors with even a low tolerance for numbers-crunching. Recommended for most business collections. Fortune Book Club selection. Alex Wenner, Indiana Univ. Lib., Bloomington
Copyright 1986 Reed Business Information, Inc.
From Publishers Weekly:
In this highly readable analysis, financial strategist Leeb examines the "secular" (not cyclical) bull stock markets of the 1920s and post-war '50s and '60s. In them he finds four identifiable pre-conditions that he considers applicable today. Involved is the relationship of inflation rates, bond yields, money supply movements and "real" economic growth. Because of a current "major realignment" of tax, regulatory and other economic forces, Leeb's four conditions, he notes, are now phased into a rare bull-market configuration. He expects this once-in-a-lifetime opportunity for investors to propel the Dow Jones industrial stock price average above the 4000 mark. Readers are advised how to read the signs from information available in newspapers. They are also taught how to take warning and unload when the stock market bull has run its course. Fortune Book Club dual main selection.
Copyright 1986 Reed Business Information, Inc.
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