A Bullish Bias
In Doug Kass's column outlining his bearish view of the market, he makes the following statement: "The price charts are a picture of what has happened in the past and don't indicate with precision what will happen in the future."
That is an interesting observation, echoed by many who lean toward a fundamental approach to the market. Obviously, past results are no guarantee of future performance (as they say in advertisements for mutual funds and other financial products), so why use charts at all?...335 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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