A Becalming Hand On Feverish Stocks: A Constant Hedge Could Be a Hero Reality Transcended
EVERY so of'en, I feel it my duty to lay a becalming hand bn the stock market ÛÓ like 'he family doctor who says to the head of 'he household, ÛÏAt your stage in life, take it easv: whv bring on a heart attack!"</br></br>EVERY so of'en, I feel it my duty to lay a becalming hand bn the stock market ÛÓ like 'he family doctor who says to the head of 'he household, ÛÏAt your stage in life, take it easv: whv bring on a heart attack!" are too high or too low, but 1 do know that we've had a long postwar bull market. Dow theorists are, exuberant. The) rails have just confirmed the advance in the, industrials.</br></br>Of 23 issues I reviewed, only one was downÛÓEastern Bowling. All the rest rose within 6 to 20 days, some to more than 200%.</br></br>Advances of 50% to 75% (Guild Musical Instruments, Milo Electronics, MotherÛªs Cookie Co.) and of more than 100% (Telescript-CSP, Stancil-Hoffman, Management Assistance, Boonton Electronics, General Supermarkets, Berkey Photo) were common.</br></br>The head of the investment policy committee of a major trust company insisted to me the other day: ÛÏOf course, weÛªre cautious. WeÛªre buying less and less common stock every day.Û ÛÏBy why, if you donÛªt trust the market, if you think stocks are high, put such a large proportion into commons?Û