Ned Puddleman suggests caution

Please read Ned Puddleman’s comment on yesterday’s posting.  Ned is not the only cautious thinker among us.    I was walking-running with a friend today who made similar observations.   As I told my friend, I don’t follow any theory.  It’s my experience on which I base my beliefs.   Of course, as Ned pointed out, there are many negative factors today that may not have  been there during my more than 50 years of watching how the Dow predicts the economy.    Nevertheless, I think that optimism can encourage a positive economic fulfilling prophecy.  Pessimism, I believe, can have the opposite effect.

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