Out Of Bondage
By William Smead:In the Bible's books of Genesis and Exodus we are told that as Prime Minister of Egypt, Joseph was wise enough to store up massive amounts of grain in a seven-year prosperity period. When the seven-year famine followed, his family came to Egypt to buy food. After revealing himself as their brother, Joseph's family, the Hebrew people, moved to Egypt to live. They successfully got relief from the famine, but chose to stay and live in Egypt long after the famine had ended. This is a perfect picture of what has happened to U.S. institutional and individual investors over the last eleven years. A seven-year prosperity period, led by a boom in everything technology oriented, ended in 2000. Stocks, as represented by the S&P 500 Index, were the most overpriced that they had been since 1929 and 1972. Beginning with institutional investors who had the resources to do so, theComplete Story »
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