November 25, 2010
After all, many of the mantras are based on averages, leaving room for wide swings. But none of them has stood a chance under the Fed’s quantitative-easing program, first floated in August before a formal announcement in early November. The plan met with initial success, helping inflate asset prices and send the Dow up about 12% since late August.
“All this money that the government is throwing into the market is changing the rules,” laments Keith Springer, president of Springer Financial Advisors in Sacramento, Calif.
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