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Article: Bull Market Mixes Fact and Fancy
- Article from:
- AP Online
- Article date:
- March 21, 1999
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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CHET CURRIER, AP Business Writer
AP Online
03-21-1999
Bull Market Mixes Fact and Fancy
NEW YORK (AP) -- Now that the Dow Jones industrial average has broken 10,000, it's more tempting than ever to regard the great bull market in stocks as a flight of fantasy, something utterly unreal.
How can the assets and earning power of corporate America be worth twice as much today as they were just 3{ years ago, when the Dow crossed 5,000 for the first time in the fall of 1995? Or three times as much as their market value seven years ago, when the average hovered around 3,300 in the early spring of 1992?
That's not even to mention the wacky world of Internet stocks, where traders seemingly never let ...