|
|
Article: Bull market is back — maybe
- Article from:
- Deseret News (Salt Lake City)
- Article date:
- July 5, 2003
- Author:
CopyrightCopyright 2003 Deseret News (Salt Lake City). Provided by ProQuest LLC. (Hide copyright information)
|
NEW YORK -- The bull market is back, according to at least some
definitions of the term.
The Standard & Poor's 500 index this past week posted its best
quarterly gain since late 1998. Wall Street's three main gauges are
at their highest levels in a year. Investors are more upbeat that an
economic rebound, three years in coming, is now under way.
Still, the bull market label gives investors a false hope of
future, sustainable gains, according to experts.
"I've seen a concrete definition of a bear market as being down 20
percent, so for bull markets you could say it means rising 20
percent," said Robert Shiller, a Yale economics professor and author
of "Irrational Exuberance," which correctly ...