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July 13, 2010
Graph of the Day for July 13, 2010
"Little more than nine months ago, share prices were staring into the abyss. The prevailing mood among fund managers had rarely been more bearish. We stood, it seemed, on the edge of a second Great Depression. Thankfully, this economic nemesis appears to have been avoided, thus far at least. Stock markets around the world have as a consequence staged one of the most remarkable rallies ever. Somewhat worryingly, given how bearish professional investors were when the market was down in the dumps, surveys show the predominant mood now to be overwhelmingly bullish." Jeremy Warner, the Telegraph, January 2010.
![](/legacy_assets/blog/old_root/Stocks.gif width=)
Data sources: Yahoo Finance and St. Louis Fed.
Hoven's Index for July 13, 2010
Average ratio of Dow Jones Index to GDP (in billions): 91%
91% of current GDP: 13,000
Data sources: Yahoo Finance and St. Louis Fed.
(Author's comment: This is not investment advice. I personally find it very hard to believe that the Dow should be at 13,000. My portfolio allocation sure doesn't believe it. While the average ratio was 91%, the range was 28% to 240%, or equivalent Dows of 4,000 to 34,000. So as usual, it's anybody's guess. Randall Hoven)
Graph of the Day Archive.
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