Word: bullishly
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Chambers is sometimes cheerfully diverting. He discourses on mushrooms. He jocularly informs Buckley that his son John is a "great eater of your whoreson flapjacks." He passes along crazy, bullish stock market tips-some of which turn out to be crazy like a fox. Reformed revolutionaries, Chambers observes wryly, when they can learn to stifle their scruples, often do well in finance. He is a notable coiner of cranky but sharp-eyed political epigrams: "The illusion of Yalta [1945]: that the Communists yearned for peace if only we'd be kind to them. The illusion of Geneva [1955]: that...
...more material way, investors expressed a yearning for peace, and a belief that peace would be bullish. They bought stock in close to record amounts and sent the market to its sharpest gains in months. Prices spurted early in the week on hopes that the Moratorium demonstrations would compel the Nixon Administration to take some action that might further scale down the war. Stocks paused at midweek as investors took profits, but climbed again on news of the Communist offer of direct talks between the U.S. and the Viet Cong. Prices tapered after the U.S. rejected the offer...
Despite all the official declarations that the Administration's present anti-inflation policies will not be changed in the immediate future, brokers have adopted a more bullish mood. Those who only a short time ago were discussing the prospect of the Dow-Jones average going below 800-as it did for a few hours two weeks ago-are now warning their clients of the dangers of missing "the turn" on the up side. In their view, any easing of monetary policy, whenever it comes, would start a strong rally. And any real move toward peace could send stocks soaring...
...brokers are strongly bullish or strongly bearish. Those who expect the Dow-Jones average to fall below 800 predict that any new decline will be less violent than the 167-point May-July plunge. Those who expect the July low to stand as the bottom of the 1969 market predict that stock prices will move sideways for a long time until there are solid indications that inflation is being brought under control. Such prospects may be faintly reassuring to the average investor, but they do not promise much chance for speculators to recoup their mid-1969 losses quickly...
Wall Street, and much of the American business community, favors what Economist Paul A. Samuelson calls a "dovish-bullish syndrome"-which conjures up visions of a hybrid creature with wings, hooves and horns. Recent history shows that peace pays. World War II and Korea were followed not by the depressions that had been predicted, but only by mild recessions that were soon erased by new bursts of prosperity. A stand-down in Viet Nam would help both to cool inflation and to open new opportunities for dealing with some of the social ills that hurt the nation and its economy...