Tuesday, October 12, 2010

The Funny Rally

Mentioned on cnn.money.

David Joy, chief market strategist with Columbia Management in Boston, agreed. He said it's hard to bet against stocks right now but conceded that the market's recent move is more about waiting for the Fed than any real optimism about the economy

  • "The rally is funny since it's somewhat artificial. Is it driven by solid economic fundamentals showing that things are improving? The answer is clearly no," Joy said. "In the short run you just have to be along for the ride. But for the long run, it makes me a little anxious."